Leerink Partnrs Issues Optimistic Forecast for MIRM Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – Research analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for Mirum Pharmaceuticals in a report released on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings per share of ($1.63) for the year, up from their prior estimate of ($1.93). The consensus estimate for Mirum Pharmaceuticals’ current full-year earnings is ($1.81) per share. Leerink Partnrs also issued estimates for Mirum Pharmaceuticals’ Q4 2024 earnings at ($0.28) EPS and FY2025 earnings at ($0.99) EPS.

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, beating analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $90.38 million during the quarter, compared to the consensus estimate of $81.99 million. During the same quarter last year, the company posted ($0.57) EPS. The company’s revenue for the quarter was up 89.4% on a year-over-year basis.

Other analysts also recently issued reports about the stock. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Cantor Fitzgerald boosted their target price on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Citigroup upped their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Evercore ISI lifted their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $57.73.

Mirum Pharmaceuticals Trading Down 3.8 %

Shares of Mirum Pharmaceuticals stock opened at $44.50 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.09. Mirum Pharmaceuticals has a 1 year low of $23.14 and a 1 year high of $48.89. The firm has a market cap of $2.14 billion, a PE ratio of -22.09 and a beta of 1.16. The company has a 50 day simple moving average of $40.06 and a two-hundred day simple moving average of $35.86.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its stake in Mirum Pharmaceuticals by 7,513.3% in the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after buying an additional 1,127 shares in the last quarter. Amalgamated Bank raised its position in shares of Mirum Pharmaceuticals by 60.8% in the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after acquiring an additional 513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $67,000 after purchasing an additional 318 shares during the period. ProShare Advisors LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $213,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Mirum Pharmaceuticals in the third quarter worth $215,000.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction 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 sale, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.87% of the stock is owned by company insiders.

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.