Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Earnings Results, Misses Expectations By $0.22 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) issued its earnings results on Wednesday. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22), Zacks reports. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM traded up $0.59 during trading hours on Wednesday, reaching $50.52. The stock had a trading volume of 486,456 shares, compared to its average volume of 528,812. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -25.01 and a beta of 0.96. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $54.23. The firm has a 50-day moving average of $46.52 and a 200-day moving average of $43.27. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 750 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $32,115.00. Following the completion of the sale, the senior vice president now directly owns 2,926 shares of the company’s stock, valued at approximately $125,291.32. This represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joanne Quan sold 6,969 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $45.86, for a total value of $319,598.34. Following the transaction, the insider now directly owns 5,649 shares in the company, valued at approximately $259,063.14. This represents a 55.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,915 shares of company stock worth $1,897,920. 22.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MIRM has been the topic of a number of analyst reports. Citigroup raised their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird raised their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Buy” and a consensus price target of $57.10.

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.