Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Down 4.6% After Insider Selling

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares dropped 4.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $41.93 and last traded at $42.47. Approximately 48,697 shares traded hands during trading, a decline of 91% from the average daily volume of 557,412 shares. The stock had previously closed at $44.50.

Specifically, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the sale, the senior vice president now owns 2,426 shares of the company’s stock, valued at $114,264.60. This represents a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

MIRM has been the topic of several recent research reports. Citigroup upped their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI upped their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird upped their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald upped their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Leerink Partners upped their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals Stock Performance

The stock’s fifty day moving average is $40.12 and its two-hundred day moving average is $36.15. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -22.03 and a beta of 1.16. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.09 and a current ratio of 3.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data 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 company had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm’s revenue for the quarter was up 89.4% compared to the same quarter last year. During the same period last year, the business earned ($0.57) EPS. Analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.51 earnings per share for the current year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in Mirum Pharmaceuticals by 34.2% in the 1st 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. Candriam S.C.A. bought a new position in Mirum Pharmaceuticals during the second quarter valued at about $17,384,000. Loomis Sayles & Co. L P acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $19,473,000. Clearbridge Investments LLC lifted its stake in Mirum Pharmaceuticals by 165.5% during the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after purchasing an additional 436,349 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in 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 purchasing an additional 432,824 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.