Cantor Fitzgerald Issues Positive Outlook for MIRM Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – Investment analysts at Cantor Fitzgerald upped their FY2024 earnings per share estimates for shares of Mirum Pharmaceuticals in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now expects that the company will post earnings per share of ($1.69) for the year, up from their previous estimate of ($2.27). Cantor Fitzgerald currently has a “Overweight” rating and a $60.00 price target on the stock. The consensus estimate for Mirum Pharmaceuticals’ current full-year earnings is ($1.51) per share.

MIRM has been the topic of several other research reports. Leerink Partners lifted their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Citigroup lifted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Evercore ISI lifted their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird lifted their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $57.73.

Mirum Pharmaceuticals Stock Up 1.6 %

Shares of Mirum Pharmaceuticals stock opened at $42.09 on Monday. The business’s fifty day moving average price is $40.14 and its two-hundred day moving average price is $36.37. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The company has a market capitalization of $2.02 billion, a P/E ratio of -20.84 and a beta of 1.16. Mirum Pharmaceuticals has a 1-year low of $23.14 and a 1-year high of $48.89.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. The firm had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm’s revenue for the quarter was up 89.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.57) EPS.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals 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 transaction, the senior vice president now directly owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MIRM. Quest Partners LLC raised 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 valued at $39,000 after buying an additional 1,127 shares during the period. Amalgamated Bank raised its position in Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after buying an additional 513 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Mirum Pharmaceuticals by 22.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after buying an additional 318 shares during the period. ProShare Advisors LLC acquired a new position in Mirum Pharmaceuticals during the second quarter valued at $213,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Mirum Pharmaceuticals during the third quarter valued at $215,000.

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.