Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Down 8.2% After Earnings Miss

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price was down 8.2% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $44.21 and last traded at $46.38. Approximately 145,003 shares were traded during trading, a decline of 72% from the average daily volume of 516,255 shares. The stock had previously closed at $50.52.

The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The firm had revenue of $99.41 million for the quarter, compared to the consensus estimate of $96.64 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%.

Analyst Ratings Changes

MIRM has been the topic of a number of recent research reports. Citigroup increased their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird upped their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, HC Wainwright reiterated a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $57.60.

Insiders Place Their Bets

In other news, COO Peter Radovich sold 2,627 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $126,673.94. Following the transaction, the chief operating officer now directly owns 26,961 shares of the company’s stock, valued at approximately $1,300,059.42. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Peetz sold 7,489 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the sale, the chief executive officer now directly owns 119,359 shares of the company’s stock, valued at $5,110,952.38. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,915 shares of company stock valued at $1,897,920 in the last quarter. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in shares of Mirum Pharmaceuticals by 100.0% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock valued at $30,000 after purchasing an additional 357 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Mirum Pharmaceuticals during the 4th quarter valued at approximately $35,000. GF Fund Management CO. LTD. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after acquiring an additional 318 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter valued at approximately $69,000.

Mirum Pharmaceuticals Stock Down 7.7 %

The company has a 50-day moving average of $46.72 and a two-hundred day moving average of $43.32. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $2.24 billion, a P/E ratio of -23.07 and a beta of 0.96.

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.