Leerink Partnrs Issues Optimistic Estimate for MIRM Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – Equities researchers at Leerink Partnrs boosted their FY2024 earnings estimates for shares of Mirum Pharmaceuticals in a research note issued to investors on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings per share of ($1.60) for the year, up from their previous forecast of ($1.63). The consensus estimate for Mirum Pharmaceuticals’ current full-year earnings is ($1.45) per share. Leerink Partnrs also issued estimates for Mirum Pharmaceuticals’ Q4 2024 earnings at ($0.24) EPS and FY2025 earnings at ($0.83) EPS.

A number of other research analysts also recently weighed in on MIRM. Robert W. Baird increased their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup increased their price objective on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Finally, Leerink Partners upped their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $57.10.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $47.53 on Friday. The company has a market capitalization of $2.28 billion, a PE ratio of -23.53 and a beta of 0.98. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week high of $49.27. The company has a 50-day simple moving average of $43.70 and a 200 day simple moving average of $41.45.

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

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its position in shares of Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the last quarter. ProShare Advisors LLC purchased a new position in Mirum Pharmaceuticals in the 2nd quarter worth approximately $213,000. Marshall Wace LLP increased its holdings in shares of Mirum Pharmaceuticals by 35.9% in the 2nd quarter. Marshall Wace LLP now owns 20,520 shares of the company’s stock worth $702,000 after buying an additional 5,420 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Mirum Pharmaceuticals by 63.4% in the 2nd quarter. Squarepoint Ops LLC now owns 67,421 shares of the company’s stock worth $2,305,000 after buying an additional 26,154 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Mirum Pharmaceuticals by 165.5% during the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after buying an additional 436,349 shares in the last quarter.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 750 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $32,115.00. Following the sale, the senior vice president now directly owns 2,926 shares in the company, valued at $125,291.32. This represents a 20.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joanne Quan sold 6,969 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $45.86, for a total transaction of $319,598.34. Following the completion of the transaction, the insider now directly owns 5,649 shares of the company’s stock, valued at approximately $259,063.14. The trade was a 55.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,706 shares of company stock valued at $875,697. Corporate insiders own 22.87% of the company’s stock.

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.