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

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

Several other analysts have also recently weighed in on MIRM. Citigroup reaffirmed a “market outperform” rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. TD Cowen cut their price objective on Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. HC Wainwright decreased their price objective on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird set a $123.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.31.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $99.53 on Friday. The company’s 50 day simple moving average is $108.30 and its two-hundred day simple moving average is $101.67. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. Mirum Pharmaceuticals has a 1 year low of $63.23 and a 1 year high of $130.00. The stock has a market capitalization of $6.46 billion, a PE ratio of -6.84 and a beta of 0.49.

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

Insider Activity

In related news, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the sale, the chief financial officer owned 36,355 shares of the company’s stock, valued at $3,631,864.50. The trade was a 14.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 128,814 shares of company stock worth $13,445,462. 8.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Jupiter Topco LLC purchased a new position in shares of Mirum Pharmaceuticals in the second quarter worth about $691,672,000. California State Teachers Retirement System boosted its holdings in Mirum Pharmaceuticals by 12,542.7% during the 2nd quarter. California State Teachers Retirement System now owns 5,622,989 shares of the company’s stock valued at $658,283,000 after acquiring an additional 5,578,513 shares during the period. BlackRock Inc. bought a new position in Mirum Pharmaceuticals during the 2nd quarter worth approximately $513,945,000. William Blair Investment Management LLC purchased a new position in Mirum Pharmaceuticals in the 2nd quarter worth approximately $164,453,000. Finally, Janus Henderson Group PLC lifted its position in Mirum Pharmaceuticals by 21.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock valued at $479,050,000 after purchasing an additional 1,067,722 shares during the last quarter.

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.