Mirum Pharmaceuticals (NASDAQ:MIRM) Issues Quarterly Earnings Results

Mirum Pharmaceuticals (NASDAQ:MIRM) released its quarterly earnings data on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $999.05, Zacks reports. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.

Mirum Pharmaceuticals Trading Up 1.1%

Shares of MIRM stock traded up $1.16 during trading hours on Wednesday, reaching $108.64. 424,512 shares of the stock were exchanged, compared to its average volume of 749,928. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of -126.33 and a beta of 0.49. Mirum Pharmaceuticals has a 12-month low of $36.88 and a 12-month high of $109.28. The company’s 50-day moving average price is $91.88 and its 200-day moving average price is $78.60. The company has a current ratio of 3.31, a quick ratio of 3.16 and a debt-to-equity ratio of 1.06.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, December 8th. HC Wainwright increased their price objective on shares of Mirum Pharmaceuticals from $102.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 26th. TD Cowen reissued a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday, January 12th. Raymond James Financial restated a “strong-buy” rating and issued a $110.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $110.17.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, Director Patrick J. Heron bought 131,425 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was acquired at an average price of $68.48 per share, for a total transaction of $8,999,984.00. Following the completion of the transaction, the director directly owned 459,010 shares of the company’s stock, valued at approximately $31,433,004.80. This represents a 40.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Peetz sold 9,108 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $103.30, for a total value of $940,856.40. Following the transaction, the chief executive officer directly owned 160,294 shares in the company, valued at approximately $16,558,370.20. This represents a 5.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,136 shares of company stock valued at $4,352,029 over the last quarter. Corporate insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently bought and sold shares of MIRM. CIBC Private Wealth Group LLC bought a new position in Mirum Pharmaceuticals in the fourth quarter worth approximately $32,000. Quantbot Technologies LP purchased a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $33,000. Quarry LP bought a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth $41,000. Comerica Bank raised its position in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in Mirum Pharmaceuticals by 46.5% during the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock valued at $56,000 after purchasing an additional 351 shares in the last quarter.

About Mirum Pharmaceuticals

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.