HC Wainwright Has Optimistic Outlook of MIRM FY2024 Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – Equities researchers at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for Mirum Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst E. Arce now expects that the company will post earnings per share of ($0.38) for the year, up from their prior forecast of ($0.81). HC Wainwright has a “Buy” rating and a $66.00 price objective on the stock. The consensus estimate for Mirum Pharmaceuticals’ current full-year earnings is ($1.81) per share. HC Wainwright also issued estimates for Mirum Pharmaceuticals’ Q4 2024 earnings at ($0.27) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at $0.12 EPS, FY2025 earnings at $1.00 EPS, FY2026 earnings at $5.48 EPS, FY2027 earnings at $6.98 EPS and FY2028 earnings at $10.38 EPS.

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

Several other equities analysts also recently commented on MIRM. Citigroup upped their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI boosted their price objective 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. Leerink Partners raised their target price on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald raised their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird raised 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. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $57.73.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $44.50 on Friday. The company has a market cap of $2.14 billion, a P/E ratio of -22.03 and a beta of 1.16. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.09. The firm’s fifty day moving average price is $40.12 and its two-hundred day moving average price is $36.07. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $48.89.

Insiders Place Their Bets

In related news, SVP Jolanda Howe sold 2,500 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in Mirum Pharmaceuticals by 34.2% in the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after acquiring an additional 704,659 shares in the last quarter. Candriam S.C.A. bought a new stake in Mirum Pharmaceuticals during the 2nd quarter valued at $17,384,000. Loomis Sayles & Co. L P bought a new position in shares of Mirum Pharmaceuticals in the third quarter valued at $19,473,000. Clearbridge Investments LLC increased its position in shares of Mirum Pharmaceuticals by 165.5% during the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after acquiring an additional 436,349 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after acquiring an additional 432,824 shares in 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.