Mirum Pharmaceuticals (NASDAQ:MIRM) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Mirum Pharmaceuticals (NASDAQ:MIRM) from a hold rating to a sell rating in a research note released on Sunday.

MIRM has been the topic of several other reports. Raymond James Financial restated a “strong-buy” rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Wolfe Research initiated coverage on Mirum Pharmaceuticals in a report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price objective for the company. CLSA set a $146.00 target price on Mirum Pharmaceuticals in a report on Monday, June 15th. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Finally, Evercore restated an “outperform” rating and set a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.33.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM opened at $100.64 on Friday. The company’s 50 day simple moving average is $110.91 and its 200 day simple moving average is $102.02. Mirum Pharmaceuticals has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The firm has a market capitalization of $6.53 billion, a P/E ratio of -6.92 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share (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 business had revenue of $176.24 million during the quarter, compared to the consensus estimate of $166.33 million. During the same period in the previous year, the business posted ($0.12) earnings per share. Mirum Pharmaceuticals’s revenue was up 37.9% compared to the same quarter last year. On average, analysts predict that Mirum Pharmaceuticals will post -1.31 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $98.92, for a total transaction of $1,978,400.00. Following the sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at approximately $19,221,046.28. This trade represents a 9.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the transaction, the chief financial officer owned 36,355 shares in the company, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 93,156 shares of company stock worth $9,763,562 in the last quarter. Corporate insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently modified their holdings of MIRM. Odyssean LLC bought a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $3,503,000. Man Group plc acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $4,353,000. Trails Edge Capital Partners LP bought a new stake in Mirum Pharmaceuticals during the 2nd quarter worth approximately $26,143,136,000. Jupiter Topco LLC bought a new position in Mirum Pharmaceuticals in the second quarter valued at approximately $691,672,000. Finally, ABS Investment Management LLC acquired a new position in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $245,847,000.

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.