Mirum Pharmaceuticals (NASDAQ:MIRM) Releases Earnings Results, Beats Estimates By $0.15 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) posted its quarterly earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, topping 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 analysts’ expectations 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 was up 89.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.57) EPS. Mirum Pharmaceuticals updated its FY 2024 guidance to EPS.

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock opened at $42.28 on Wednesday. Mirum Pharmaceuticals has a 12 month low of $23.14 and a 12 month high of $45.81. The stock’s fifty day moving average price is $39.92 and its 200-day moving average price is $35.73. The firm has a market cap of $2.02 billion, a P/E ratio of -18.46 and a beta of 1.16. The company has a current ratio of 3.28, a quick ratio of 3.09 and a debt-to-equity ratio of 1.34.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Cantor Fitzgerald boosted their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Evercore ISI upped their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Leerink Partners raised 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 investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of “Buy” and a consensus 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.