Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Down 4.3%

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price was down 4.3% on Tuesday . The stock traded as low as $42.59 and last traded at $42.81. Approximately 101,598 shares were traded during trading, a decline of 84% from the average daily volume of 633,552 shares. The stock had previously closed at $44.74.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Evercore ISI boosted their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Finally, Citigroup boosted their price objective on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $56.27.

Mirum Pharmaceuticals Trading Down 8.2 %

The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -11.20 and a beta of 1.15. The business has a 50-day simple moving average of $35.05 and a two-hundred day simple moving average of $29.34. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.47 and a current ratio of 3.68.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. The business had revenue of $77.90 million for the quarter, compared to analyst estimates of $75.03 million. During the same quarter in the previous year, the company posted ($0.92) EPS. The business’s revenue for the quarter was up 107.7% compared to the same quarter last year. As a group, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Insider Activity

In related news, Director Saira Ramasastry sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Pamela Vig sold 30,559 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $34.00, for a total value of $1,039,006.00. Following the completion of the transaction, the insider now owns 27,406 shares of the company’s stock, valued at approximately $931,804. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The disclosure for this sale can be found here. Insiders sold 35,934 shares of company stock worth $1,180,156 in the last quarter. Corporate insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank increased its position in Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after buying an additional 513 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Mirum Pharmaceuticals by 10.6% during the 2nd quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock worth $315,000 after acquiring an additional 883 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Mirum Pharmaceuticals by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 222,864 shares of the company’s stock worth $6,579,000 after acquiring an additional 918 shares during the last quarter. Golden State Equity Partners raised its stake in Mirum Pharmaceuticals by 5.3% in the 4th quarter. Golden State Equity Partners now owns 18,930 shares of the company’s stock valued at $559,000 after acquiring an additional 950 shares during the period. Finally, Wetzel Investment Advisors Inc. raised its stake in Mirum Pharmaceuticals by 71.4% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 2,400 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares during the period.

About Mirum Pharmaceuticals

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.