Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Down 4.3%

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MIRM shares. Cantor Fitzgerald upped their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. JMP Securities upped their price target on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 18th. Citigroup lifted their price objective on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley raised their price target on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Finally, Evercore ISI boosted their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Buy” and an average target price of $56.27.

Mirum Pharmaceuticals Price Performance

The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -11.20 and a beta of 1.15. The business’s 50 day simple moving average is $35.05 and its 200-day simple moving average is $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 quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted ($0.92) EPS. The company’s revenue was up 107.7% compared to the same quarter last year. Research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the transaction, the insider now owns 27,406 shares of the company’s stock, valued at approximately $931,804. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $34.00, for a total value of $1,039,006.00. Following the completion of the sale, the insider now directly owns 27,406 shares in the company, valued at $931,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The disclosure for this sale can be found here. Insiders sold 35,934 shares of company stock valued at $1,180,156 over the last 90 days. 22.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

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

Mirum Pharmaceuticals Company Profile

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.