Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Down 5.1%

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price dropped 5.1% during mid-day trading on Wednesday . The stock traded as low as $38.06 and last traded at $38.24. Approximately 328,474 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 598,381 shares. The stock had previously closed at $40.29.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MIRM shares. Baird R W raised shares of Mirum Pharmaceuticals to a “strong-buy” rating in a research note on Monday, June 17th. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Friday, July 26th. Morgan Stanley upped their price objective on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Evercore ISI upped their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird upped their price objective on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of “Buy” and an average target price of $56.27.

Mirum Pharmaceuticals Stock Up 3.8 %

The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -10.61 and a beta of 1.14. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.28 and a quick ratio of 3.09. The stock has a 50-day moving average of $40.83 and a 200-day moving average of $31.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The company had revenue of $77.90 million for the quarter, compared to analyst estimates of $75.03 million. Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The company’s quarterly revenue was up 107.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.92) EPS. Sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $34.00, for a total value of $1,039,006.00. Following the sale, the insider now owns 27,406 shares of the company’s stock, valued at approximately $931,804. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Clearbridge Investments LLC raised its position in Mirum Pharmaceuticals by 165.5% during the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after purchasing an additional 436,349 shares during the last quarter. Squarepoint Ops LLC raised its position in Mirum Pharmaceuticals by 63.4% during the 2nd quarter. Squarepoint Ops LLC now owns 67,421 shares of the company’s stock worth $2,305,000 after purchasing an additional 26,154 shares during the last quarter. Marshall Wace LLP raised its position in Mirum Pharmaceuticals by 35.9% during the 2nd quarter. Marshall Wace LLP now owns 20,520 shares of the company’s stock worth $702,000 after purchasing an additional 5,420 shares during the last quarter. ProShare Advisors LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter worth $213,000. Finally, XTX Topco Ltd bought a new position in Mirum Pharmaceuticals during the 2nd quarter worth $521,000.

Mirum Pharmaceuticals Company Profile

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.