Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Rating Lowered by Wall Street Zen

Mirum Pharmaceuticals (NASDAQ:MIRM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Several other research firms have also commented on MIRM. JPMorgan Chase & Co. raised their target price on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Royal Bank Of Canada reduced their price target on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. HC Wainwright decreased their price objective on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Citigroup reissued a “market outperform” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Finally, Morgan Stanley set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.31.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $100.90 on Friday. The firm has a market cap of $6.55 billion, a P/E ratio of -6.93 and a beta of 0.49. Mirum Pharmaceuticals has a 52-week low of $63.23 and a 52-week high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The business’s fifty day moving average is $108.65 and its 200-day moving average is $101.71.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The company had revenue of $176.24 million during the quarter, compared to analyst estimates of $166.33 million. During the same period last year, the firm earned ($0.12) EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. Sell-side analysts expect that Mirum Pharmaceuticals will post -1.31 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the sale, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at approximately $19,187,339.20. The trade was a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the sale, the senior vice president directly owned 1,274 shares in the company, valued at $127,400. This trade represents a 96.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 128,814 shares of company stock valued at $13,445,462. 8.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth $30,000. Eurizon Capital SGR S.p.A. bought a new position in Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. CIBC Private Wealth Group LLC bought a new position in Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals during the third quarter valued at about $33,000. Finally, Comerica Bank boosted its stake in shares of Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.