Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Down 7% – What’s Next?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) was down 7% during trading on Monday . The stock traded as low as $41.41 and last traded at $41.54. Approximately 74,768 shares traded hands during trading, a decline of 86% from the average daily volume of 544,729 shares. The stock had previously closed at $44.67.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MIRM shares. HC Wainwright reiterated a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Robert W. Baird increased their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup boosted their price objective on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Leerink Partners upped their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $57.73.

Mirum Pharmaceuticals Price Performance

The company has a 50 day moving average price of $41.57 and a two-hundred day moving average price of $38.19. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period last year, the firm posted ($0.57) earnings per share. The company’s revenue was up 89.4% compared to the same quarter last year. On average, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the transaction, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at approximately $114,264.60. This represents a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Mirum Pharmaceuticals by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after acquiring an additional 318 shares in the last quarter. Amalgamated Bank grew its position in shares of Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Mirum Pharmaceuticals by 10.6% in the second quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock valued at $315,000 after purchasing an additional 883 shares during the last quarter. Quest Partners LLC lifted its position in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after buying an additional 1,127 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Mirum Pharmaceuticals by 17.1% during the second quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the company’s stock worth $480,000 after buying an additional 2,050 shares during the last quarter.

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.