HC Wainwright Has Positive Forecast for MIRM FY2024 Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – HC Wainwright upped their FY2024 earnings per share estimates for shares of Mirum Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst E. Arce now expects that the company will earn ($0.38) per share for the year, up from their prior estimate of ($0.81). HC Wainwright has a “Buy” rating and a $66.00 price target on the stock. The consensus estimate for Mirum Pharmaceuticals’ current full-year earnings is ($1.81) per share. HC Wainwright also issued estimates for Mirum Pharmaceuticals’ Q4 2024 earnings at ($0.27) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at $0.12 EPS, FY2025 earnings at $1.00 EPS, FY2026 earnings at $5.48 EPS, FY2027 earnings at $6.98 EPS and FY2028 earnings at $10.38 EPS.

Several other research analysts have also commented on MIRM. Evercore ISI lifted their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Leerink Partners raised their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday. 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 note on Thursday, August 8th. Finally, Citigroup increased their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $57.73.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $44.50 on Friday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -22.09 and a beta of 1.16. The company has a quick ratio of 3.09, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $48.89. The firm has a 50-day simple moving average of $40.06 and a 200-day simple moving average of $35.86.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate 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 net margin of 31.69% and a negative return on equity of 41.22%. The company’s revenue for the quarter was up 89.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.57) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MIRM. Frazier Life Sciences Management L.P. lifted its stake in shares of Mirum Pharmaceuticals by 1.2% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock worth $256,245,000 after acquiring an additional 75,000 shares during the period. Janus Henderson Group PLC grew its position in shares of Mirum Pharmaceuticals by 34.2% in the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after purchasing an additional 704,659 shares during the last quarter. State Street Corp grew its holdings in Mirum Pharmaceuticals by 19.9% during the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after buying an additional 297,511 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $40,131,000 after acquiring an additional 432,824 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of 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 in the last quarter.

Insider Activity

In related news, SVP Jolanda Howe sold 2,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now owns 2,426 shares of the company’s stock, valued at $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 22.87% of the company’s stock.

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.