Cantor Fitzgerald Analysts Raise Earnings Estimates for MIRM

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) - Investment analysts at Cantor Fitzgerald lifted their FY2024 earnings per share (EPS) estimates for Mirum Pharmaceuticals in a research note issued on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will post earnings per share of ($1.69) for the year, up from their prior forecast of ($2.27). Cantor Fitzgerald has a "Overweight" rating and a $60.00 price target on the stock. The consensus estimate for Mirum Pharmaceuticals' current full-year earnings is ($1.51) per share.

Several other equities analysts have also issued reports on MIRM. HC Wainwright reiterated a "buy" rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Robert W. Baird boosted their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Evercore ISI boosted their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Leerink Partners boosted their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, Citigroup boosted their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $57.73.

Mirum Pharmaceuticals Stock Down 7.2 %

Shares of Mirum Pharmaceuticals stock traded down $3.22 during trading on Monday, hitting $41.28. 363,130 shares of the stock traded hands, compared to its average volume of 558,914. The firm has a market cap of $1.98 billion, a P/E ratio of -22.03 and a beta of 1.16. The company has a current ratio of 3.34, a quick ratio of 3.09 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 stock's fifty day simple moving average is $40.12 and its 200 day simple moving average is $36.15.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its 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. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $90.38 million during the quarter, compared to the consensus estimate of $81.99 million. During the same period last year, the company earned ($0.57) earnings per share. The business's revenue for the quarter was up 89.4% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company's stock valued at $40,131,000 after purchasing an additional 432,824 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in shares of Mirum Pharmaceuticals by 64.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company's stock valued at $4,090,000 after buying an additional 63,871 shares during the period. Rice Hall James & Associates LLC lifted its holdings in shares of Mirum Pharmaceuticals by 6.9% in the 2nd quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company's stock valued at $7,854,000 after buying an additional 14,843 shares during the period. Candriam S.C.A. acquired a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $17,384,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Mirum Pharmaceuticals by 64.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company's stock valued at $3,582,000 after buying an additional 41,236 shares during the period.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares in the company, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.