Wall Street Zen Downgrades Mirum Pharmaceuticals (NASDAQ:MIRM) to Sell

Mirum Pharmaceuticals (NASDAQ:MIRM) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts also recently commented on the stock. Citizens Jmp reduced their price objective on shares of Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating for the company in a report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Stifel Nicolaus set a $136.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada cut their price target on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $99.83 on Friday. The stock’s 50 day simple moving average is $111.04 and its 200-day simple moving average is $102.03. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. The stock has a market cap of $6.48 billion, a PE ratio of -6.86 and a beta of 0.52. Mirum Pharmaceuticals has a 1 year low of $63.23 and a 1 year high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The firm had revenue of $176.24 million during the quarter, compared to the consensus estimate of $166.33 million. During the same period last year, the business earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. Sell-side analysts forecast that Mirum Pharmaceuticals will post -1.31 EPS for the current year.

Insider Activity

In related news, CEO Christopher Peetz sold 20,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $98.92, for a total transaction of $1,978,400.00. Following the completion of the sale, the chief executive officer owned 194,309 shares in the company, valued at $19,221,046.28. This trade represents a 9.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the transaction, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This represents a 14.17% 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. In the last quarter, insiders have sold 93,156 shares of company stock worth $9,763,562. Corporate insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nan Fung Trinity HK Ltd. boosted its holdings in shares of Mirum Pharmaceuticals by 45.6% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 227,479 shares of the company’s stock worth $17,969,000 after acquiring an additional 71,214 shares in the last quarter. Emerald Advisers LLC increased its holdings in Mirum Pharmaceuticals by 8.2% during the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company’s stock valued at $36,699,000 after purchasing an additional 30,129 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Mirum Pharmaceuticals during the 4th quarter valued at $1,283,000. Hillsdale Investment Management Inc. bought a new position in Mirum Pharmaceuticals in the 4th quarter valued at $3,762,000. Finally, Thrivent Financial for Lutherans bought a new position in Mirum Pharmaceuticals in the 4th quarter valued at $3,306,000.

Mirum Pharmaceuticals Company Profile

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.