Mirum Pharmaceuticals (NASDAQ:MIRM) CEO Christopher Peetz Sells 20,000 Shares of Stock

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the sale, the chief executive officer directly owned 206,637 shares in the company, valued at approximately $18,597,330. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Peetz also recently made the following trade(s):

• On Tuesday, September 1st, Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $98.68, for a total value of $2,960,400.00.
• On Monday, August 10th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $98.92, for a total value of $1,978,400.00.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $96.97 on Thursday. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 12-month low of $63.23 and a 12-month high of $130.00. The stock has a 50-day moving average price of $89.51 and a 200 day moving average price of $98.44. The stock has a market capitalization of $6.30 billion, a P/E ratio of -6.27 and a beta of 0.75.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 65.71%. The business had revenue of $185.72 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the business posted $0.05 EPS. The firm’s revenue for the quarter was up 39.6% compared to the same quarter last year. Equities research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.32 EPS for the current fiscal year.

Key Stories Impacting Mirum Pharmaceuticals

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Several firms raised their price targets: Citizens JMP to $167 from $144, HC Wainwright to $202 from $200, and Cantor Fitzgerald to $160 from $155. RBC reaffirmed its “outperform” rating and $155 target. The favorable analyst outlook is a likely driver of the stock’s strength. Citizens JMP recommendations HC Wainwright recommendations Cantor Fitzgerald recommendations RBC rating report
• Positive Sentiment: Third-quarter revenue rose 39.6% year over year to $185.72 million, exceeding analyst expectations of about $178 million. Mirum Q3 results and business update
• Positive Sentiment: Mirum also announced new data across its rare liver disease portfolio for presentation at AASLD’s The Liver Meeting, a potential source of investor interest in its pipeline. AASLD portfolio data announcement
• Negative Sentiment: The company reported a Q3 loss of $0.87 per share, wider than the roughly $0.49–$0.53 loss analysts expected, and below the $0.05 per-share profit a year earlier. This earnings miss tempers the positive revenue and analyst news. Q3 earnings report

Institutional Trading of Mirum Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in shares of Mirum Pharmaceuticals in the 2nd quarter worth $691,672,000. Janus Henderson Group PLC raised its position in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after buying an additional 880,505 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $513,945,000. ABS Investment Management LLC bought a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $245,847,000. Finally, William Blair Investment Management LLC bought a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $164,453,000.

Wall Street Analysts Forecast Growth

MIRM has been the topic of several research analyst reports. Cantor Fitzgerald boosted their target price on shares of Mirum Pharmaceuticals from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $189.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday. HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $200.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on shares of Mirum Pharmaceuticals from $136.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, Morgan Stanley boosted their price target on shares of Mirum Pharmaceuticals from $137.00 to $152.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $153.56.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.