Mirum Pharmaceuticals (NASDAQ:MIRM) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Mirum Pharmaceuticals (NASDAQ:MIRM) from a hold rating to a sell rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Several other brokerages have also issued reports on MIRM. HC Wainwright reduced their price target on Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. UBS Group set a $137.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. Wolfe Research initiated coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price target on the stock. Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. One research 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.31.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $100.90 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 1-year low of $63.23 and a 1-year high of $130.00. The firm’s fifty day simple moving average is $109.09 and its 200-day simple moving average is $101.72. The company has a market capitalization of $6.55 billion, a PE ratio of -6.93 and a beta of 0.49.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released 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 firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. During the same period in the previous year, the business posted ($0.12) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 37.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Mirum Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were 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 represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the sale, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at approximately $19,187,339.20. This represents a 13.37% 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 128,814 shares of company stock valued at $13,445,462 over the last 90 days. 8.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. ABS Investment Management LLC bought a new position in shares of Mirum Pharmaceuticals in the second quarter worth about $245,847,000. Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals during the 2nd quarter valued at approximately $44,000. Cullen Frost Bankers Inc. acquired a new stake in Mirum Pharmaceuticals in the 4th quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in Mirum Pharmaceuticals in the 4th quarter valued at approximately $32,000. Finally, CIBC Private Wealth Group LLC bought a new position in Mirum Pharmaceuticals in the 4th quarter worth approximately $32,000.

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.