Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Earnings Results, Beats Expectations By $0.15 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) issued its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15, Briefing.com reports. The company had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The firm’s revenue for the quarter was up 89.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.57) earnings per share. Mirum Pharmaceuticals updated its FY 2024 guidance to EPS.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $42.28 on Wednesday. The firm’s 50-day moving average is $39.92 and its two-hundred day moving average is $35.73. Mirum Pharmaceuticals has a 12 month low of $23.14 and a 12 month high of $45.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.28 and a quick ratio of 3.09. The company has a market capitalization of $2.02 billion, a PE ratio of -18.46 and a beta of 1.16.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Evercore ISI increased 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. Cantor Fitzgerald boosted their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Leerink Partners lifted their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. 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, the company currently has a consensus rating of “Buy” and an average target price of $57.36.

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.