Mirum Pharmaceuticals (NASDAQ:MIRM) Issues Quarterly Earnings Results

by · The Markets Daily

Mirum Pharmaceuticals (NASDAQ:MIRM – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.16, Zacks reports. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The business had revenue of $133.01 million during the quarter, compared to the consensus estimate of $130.11 million. During the same quarter last year, the company earned ($0.30) earnings per share. The company’s quarterly revenue was up 47.1% on a year-over-year basis. Mirum Pharmaceuticals updated its FY 2025 guidance to EPS.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM traded down $0.67 on Wednesday, reaching $70.30. 746,182 shares of the stock traded hands, compared to its average volume of 551,974. Mirum Pharmaceuticals has a 12 month low of $36.88 and a 12 month high of $78.54. The firm’s fifty day simple moving average is $73.31 and its 200 day simple moving average is $58.59. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -58.43 and a beta of 0.75. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Laura Brege sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $74.40, for a total transaction of $1,264,800.00. Following the completion of the transaction, the director owned 15,703 shares in the company, valued at $1,168,303.20. This trade represents a 51.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Peetz sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the transaction, the chief executive officer owned 138,641 shares of the company’s stock, valued at $8,595,742. This trade represents a 22.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 116,578 shares of company stock valued at $7,262,824. 22.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of MIRM. Comerica Bank raised its position in Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the period. Osaic Holdings Inc. increased its stake in shares of Mirum Pharmaceuticals by 46.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock worth $56,000 after acquiring an additional 351 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Mirum Pharmaceuticals by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,793 shares of the company’s stock valued at $1,160,000 after acquiring an additional 440 shares during the last quarter. California State Teachers Retirement System raised its stake in Mirum Pharmaceuticals by 2.3% during the 2nd quarter. California State Teachers Retirement System now owns 33,574 shares of the company’s stock worth $1,709,000 after acquiring an additional 766 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Mirum Pharmaceuticals by 27.6% in the third quarter. Envestnet Asset Management Inc. now owns 6,802 shares of the company’s stock worth $499,000 after purchasing an additional 1,473 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on MIRM. JPMorgan Chase & Co. boosted their price objective on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Evercore ISI increased their price target on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Cantor Fitzgerald raised their price target on Mirum Pharmaceuticals from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their price target on Mirum Pharmaceuticals from $75.00 to $81.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, HC Wainwright lifted their price objective on Mirum Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $83.50.

Check Out Our Latest Report on Mirum Pharmaceuticals

Mirum Pharmaceuticals Company Profile

(Get Free Report)

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.

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