Leerink Partnrs Has Bullish Outlook for MIRM FY2024 Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) - 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 earn ($1.63) per share for the year, up from their prior forecast 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $81.99 million. During the same quarter in the prior year, the company posted ($0.57) earnings per share. Mirum Pharmaceuticals's quarterly revenue was up 89.4% on a year-over-year basis.

Several other research firms have also weighed in on MIRM. HC Wainwright reissued a "buy" rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday. Evercore ISI upped their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Citigroup upped their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday. Robert W. Baird upped their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, 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 note on Thursday, October 17th. 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, Mirum Pharmaceuticals has an average rating of "Buy" and an average price target of $57.73.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock traded down $1.76 during trading hours on Friday, hitting $44.50. The stock had a trading volume of 605,104 shares, compared to its average volume of 559,796. 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 stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -22.09 and a beta of 1.16. Mirum Pharmaceuticals has a 1-year low of $23.14 and a 1-year high of $48.89. The stock's fifty day moving average is $40.06 and its two-hundred day moving average is $35.86.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.87% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. grew its stake in Mirum Pharmaceuticals by 1.2% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company's stock valued at $256,245,000 after purchasing an additional 75,000 shares in the last quarter. Barclays PLC grew its position in shares of Mirum Pharmaceuticals by 4.6% in the 3rd quarter. Barclays PLC now owns 245,918 shares of the company's stock worth $9,592,000 after acquiring an additional 10,824 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $215,000. Wellington Management Group LLP grew its position in shares of Mirum Pharmaceuticals by 62.2% in the 3rd quarter. Wellington Management Group LLP now owns 122,334 shares of the company's stock worth $4,771,000 after acquiring an additional 46,918 shares in the last quarter. Finally, State Street Corp grew its position in shares of Mirum Pharmaceuticals by 19.9% in the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company's stock worth $69,955,000 after acquiring an additional 297,511 shares in the last quarter.

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.