Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Down 8.2% After Earnings Miss

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) fell 8.2% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $44.21 and last traded at $46.38. 145,003 shares were traded during trading, a decline of 72% from the average session volume of 516,255 shares. The stock had previously closed at $50.52.

The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $99.41 million for the quarter, compared to the consensus estimate of $96.64 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup boosted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $57.60.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $32,115.00. Following the sale, the senior vice president now owns 2,926 shares in the company, valued at approximately $125,291.32. This trade represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 9,102 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $438,898.44. Following the completion of the sale, the chief executive officer now directly owns 115,920 shares of the company’s stock, valued at approximately $5,589,662.40. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,915 shares of company stock worth $1,897,920. 22.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in Mirum Pharmaceuticals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock valued at $30,000 after acquiring an additional 357 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $42,000. 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 worth $67,000 after purchasing an additional 318 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $69,000.

Mirum Pharmaceuticals Price Performance

The company has a market capitalization of $2.24 billion, a P/E ratio of -23.07 and a beta of 0.96. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The firm’s 50-day moving average is $46.72 and its 200-day moving average is $43.32.

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.