Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $140.00 Price Target at Leerink Partners

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price cut by Leerink Partners from $154.00 to $140.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

MIRM has been the subject of several other reports. UBS Group set a $137.00 target price on Mirum Pharmaceuticals in a research note on Thursday, August 27th. Weiss Ratings downgraded Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 22nd. Citizens Jmp increased their target price on Mirum Pharmaceuticals from $144.00 to $167.00 and gave the stock a “market outperform” rating in a report on Wednesday. Cantor Fitzgerald upped their price objective on shares of Mirum Pharmaceuticals from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Mirum Pharmaceuticals in a research note on Wednesday. One 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.94.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $93.54 on Thursday. The company has a quick ratio of 2.74, a current ratio of 2.07 and a debt-to-equity ratio of 1.28. The company’s fifty day simple moving average is $89.41 and its 200 day simple moving average is $98.46. Mirum Pharmaceuticals has a 12-month low of $63.23 and a 12-month high of $130.00. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -6.05 and a beta of 0.75.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.38). The business had revenue of $185.72 million for the quarter, compared to the consensus estimate of $178.07 million. Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 97.25%. The firm’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 EPS. On average, analysts expect that Mirum Pharmaceuticals will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the sale, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at approximately $3,631,864.50. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal 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, SVP Jolanda Howe sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the sale, the senior vice president directly owned 1,274 shares of the company’s stock, valued at approximately $127,400. This represents a 96.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 116,659 shares of company stock worth $11,404,100. 8.32% of the stock is owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund purchased a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $1,168,000. Knights of Columbus Asset Advisors LLC raised its stake in Mirum Pharmaceuticals by 0.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 23,944 shares of the company’s stock valued at $2,047,000 after acquiring an additional 113 shares during the period. Commonwealth Equity Services LLC raised its stake in Mirum Pharmaceuticals by 10.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,471 shares of the company’s stock valued at $211,000 after acquiring an additional 241 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mirum Pharmaceuticals during the third quarter valued at about $284,000. Finally, Profund Advisors LLC boosted its position in Mirum Pharmaceuticals by 24.1% during the third quarter. Profund Advisors LLC now owns 18,939 shares of the company’s stock worth $1,619,000 after purchasing an additional 3,676 shares during the period.

Mirum Pharmaceuticals News Summary

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

• Positive Sentiment: Q3 revenue grew 39.6% year over year to $185.72 million, topping analyst expectations of approximately $178 million. Mirum Q3 results
• Positive Sentiment: Several firms raised their targets after the earnings update: Citizens JMP to $167, HC Wainwright to $202, and Cantor Fitzgerald to $160. RBC maintained its “outperform” rating and $155 target, while Leerink still rates the shares “outperform” despite lowering its target to $140. Citizens JMP analyst rating RBC analyst rating
• Neutral Sentiment: CEO Christopher Peetz sold 20,000 shares for $1.8 million under a pre-arranged Rule 10b5-1 plan. He retained 206,637 shares after the sale, which may temper—but does not eliminate—concerns about insider selling. CEO share sale
• Negative Sentiment: Mirum reported a Q3 loss of $0.87 per share, wider than the expected $0.49 loss and a reversal from a $0.05 profit a year earlier. The earnings miss may be weighing on sentiment despite the revenue beat. Q3 earnings flash
• Negative Sentiment: Leerink Partners cut its price target from $154 to $140. Although it kept an “outperform” rating, the reduction adds a cautious note amid the otherwise favorable analyst updates. Leerink Partners rating

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.