Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Earnings Results, Misses Expectations By $0.38 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) posted its earnings results on Tuesday. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.38), Zacks reports. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock traded up $1.33 during trading on Tuesday, hitting $87.08. The company had a trading volume of 432,925 shares, compared to its average volume of 836,218. The firm has a market capitalization of $5.65 billion, a P/E ratio of -5.98 and a beta of 0.61. Mirum Pharmaceuticals has a one year low of $63.23 and a one year high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The stock’s 50-day moving average price is $89.72 and its 200 day moving average price is $98.44.

Wall Street Analyst Weigh In

MIRM has been the subject of several research reports. Wall Street Zen cut Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Weiss Ratings lowered Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 22nd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. Morgan Stanley increased their price objective on Mirum Pharmaceuticals from $137.00 to $152.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Finally, Evercore reissued an “outperform” rating and set a $146.00 target price on shares of Mirum Pharmaceuticals in a report on Tuesday, October 13th. One equities 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.19.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 36,355 shares in the company, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of Mirum Pharmaceuticals 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 completion of the transaction, the senior vice president directly owned 1,274 shares of the company’s stock, valued at $127,400. This represents a 96.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 96,659 shares of company stock worth $9,604,100 in the last 90 days. Company insiders own 8.32% of the company’s stock.

About Mirum Pharmaceuticals

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.