Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Down 4.6% After Insider Selling

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price dropped 4.6% during trading on Monday after an insider sold shares in the company. The stock traded as low as $41.93 and last traded at $42.47. Approximately 48,697 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 557,412 shares. The stock had previously closed at $44.50.

Specifically, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

MIRM has been the subject of several research reports. Leerink Partners lifted their target price on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald lifted their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Evercore ISI lifted their target price 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. Finally, Citigroup raised 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. Ten investment 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 a consensus target price of $57.73.

Mirum Pharmaceuticals Stock Down 5.6 %

The business’s fifty day moving average price is $40.12 and its 200 day moving average price is $36.15. The company has a quick ratio of 3.09, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $2.02 billion, a PE ratio of -22.03 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. During the same period in the previous year, the business posted ($0.57) earnings per share. The business’s revenue was up 89.4% compared to the same quarter last year. On average, equities research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. Janus Henderson Group PLC grew its position in Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after buying an additional 704,659 shares during the period. Candriam S.C.A. acquired a new position in Mirum Pharmaceuticals during the second quarter worth about $17,384,000. Loomis Sayles & Co. L P acquired a new position in Mirum Pharmaceuticals during the third quarter worth about $19,473,000. Clearbridge Investments LLC grew its position in 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 buying an additional 436,349 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after buying an additional 432,824 shares during the period.

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.