HC Wainwright Has Positive Estimate for MIRM FY2024 Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) - Investment analysts at HC Wainwright upped their FY2024 earnings per share estimates for shares of Mirum Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst E. Arce now expects that the company will post earnings per share of ($0.38) for the year, up from their previous estimate of ($0.81). HC Wainwright currently 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.

MIRM has been the topic of a number of other research reports. Leerink Partners boosted their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Evercore ISI boosted their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Robert W. Baird lifted their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday. Citigroup lifted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Cantor Fitzgerald lifted their target price on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $57.73.

Mirum Pharmaceuticals Price Performance

Shares of MIRM traded down $1.76 during midday trading on Friday, reaching $44.50. The stock had a trading volume of 605,104 shares, compared to its average volume of 559,796. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $48.89. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.09. The firm's 50 day moving average price is $40.06 and its 200-day moving average price is $35.86. The company has a market capitalization of $2.14 billion, a P/E ratio of -22.09 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the previous year, the business earned ($0.57) EPS. The firm's revenue for the quarter was up 89.4% on a year-over-year basis.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was 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 of the company's stock, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.87% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several large investors have recently made changes to their positions in MIRM. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mirum Pharmaceuticals by 7.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,641 shares of the company's stock worth $448,000 after purchasing an additional 1,246 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Mirum Pharmaceuticals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company's stock worth $439,000 after purchasing an additional 1,825 shares during the last quarter. Affinity Asset Advisors LLC lifted its position in shares of Mirum Pharmaceuticals by 220.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company's stock worth $4,019,000 after purchasing an additional 110,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company's stock worth $40,131,000 after purchasing an additional 432,824 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Mirum Pharmaceuticals by 64.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company's stock worth $4,090,000 after purchasing an additional 63,871 shares during the last quarter.

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.