Mirum Pharmaceuticals (NASDAQ:MIRM) Releases Quarterly Earnings Results, Beats Expectations By $999.05 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) released its quarterly earnings data on Wednesday. The company reported $999.00 EPS for the quarter, topping the consensus estimate of ($0.05) by $999.05, Zacks reports. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.

Mirum Pharmaceuticals Price Performance

Shares of MIRM traded up $1.16 during mid-day trading on Wednesday, reaching $108.64. The stock had a trading volume of 424,512 shares, compared to its average volume of 749,928. The business has a fifty day moving average of $91.88 and a 200 day moving average of $78.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.16 and a current ratio of 3.31. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of -126.33 and a beta of 0.49. Mirum Pharmaceuticals has a 12 month low of $36.88 and a 12 month high of $109.28.

Insider Activity

In related news, SVP Jolanda Howe sold 968 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $103.30, for a total value of $99,994.40. Following the transaction, the senior vice president directly owned 4,503 shares of the company’s stock, valued at approximately $465,159.90. The trade was a 17.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter Radovich sold 2,631 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $103.30, for a total value of $271,782.30. Following the completion of the transaction, the chief operating officer owned 20,655 shares of the company’s stock, valued at $2,133,661.50. The trade was a 11.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 45,136 shares of company stock worth $4,352,029. 22.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC purchased a new position in Mirum Pharmaceuticals during the fourth quarter valued at $32,000. Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals during the 3rd quarter valued at about $33,000. Comerica Bank boosted its holdings in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the last quarter. Quarry LP purchased a new position in shares of Mirum Pharmaceuticals during the third quarter valued at about $41,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Mirum Pharmaceuticals by 46.5% in the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock worth $56,000 after purchasing an additional 351 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday, January 12th. Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Thursday, January 22nd. Citizens Jmp lifted their price objective on Mirum Pharmaceuticals from $95.00 to $140.00 and gave the stock a “market outperform” rating in a report on Friday, December 19th. Finally, Evercore reiterated an “outperform” rating and set a $101.00 price objective on shares of Mirum Pharmaceuticals in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $110.17.

Mirum Pharmaceuticals Company Profile

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.