Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Down 3.3%

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) dropped 3.3% during trading on Friday . The company traded as low as $24.58 and last traded at $24.64. Approximately 79,759 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 523,067 shares. The stock had previously closed at $25.47.

Analysts Set New Price Targets

MIRM has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Mirum Pharmaceuticals from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Citigroup lifted their price target on shares of Mirum Pharmaceuticals from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. JMP Securities reduced their price target on shares of Mirum Pharmaceuticals from $72.00 to $66.00 and set a “market outperform” rating for the company in a research note on Thursday, May 9th. Stifel Nicolaus began coverage on shares of Mirum Pharmaceuticals in a research note on Wednesday, April 17th. They issued a “buy” rating and a $48.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $49.73.

Mirum Pharmaceuticals Stock Performance

The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. The company has a market cap of $1.16 billion, a PE ratio of -6.62 and a beta of 1.13. The business’s fifty day moving average is $25.21 and its 200-day moving average is $27.85.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The firm had revenue of $69.55 million for the quarter, compared to analysts’ expectations of $66.73 million. As a group, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.39 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt purchased 2,000 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $25.80 per share, with a total value of $51,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 12,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Eric Bjerkholt purchased 2,000 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $25.80 per share, with a total value of $51,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 12,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Peter Radovich sold 4,303 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $25.80, for a total transaction of $111,017.40. Following the transaction, the chief operating officer now directly owns 29,013 shares in the company, valued at approximately $748,535.40. The disclosure for this sale can be found here. Insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of MIRM. Commonwealth Equity Services LLC bought a new stake in shares of Mirum Pharmaceuticals during the third quarter valued at approximately $379,000. Bank of New York Mellon Corp raised its position in shares of Mirum Pharmaceuticals by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 118,051 shares of the company’s stock valued at $3,730,000 after buying an additional 5,861 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mirum Pharmaceuticals by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,106 shares of the company’s stock valued at $541,000 after buying an additional 3,069 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Mirum Pharmaceuticals during the third quarter valued at approximately $221,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Mirum Pharmaceuticals by 1.2% during the third quarter. Los Angeles Capital Management LLC now owns 42,444 shares of the company’s stock valued at $1,341,000 after buying an additional 494 shares during 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.