Equities Analysts Set Expectations for MIRM FY2024 Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – Research analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for Mirum Pharmaceuticals in a research note issued on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will earn ($1.63) per share for the year, up from their prior estimate 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) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. The company had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. Mirum Pharmaceuticals’s revenue for the quarter was up 89.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.57) EPS.

Several other brokerages also recently commented on MIRM. HC Wainwright reiterated a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday. Cantor Fitzgerald lifted their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Leerink Partners upped their target price 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. Citigroup raised 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. Finally, Evercore ISI increased their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $57.73.

Mirum Pharmaceuticals Trading Down 3.8 %

Shares of NASDAQ MIRM opened at $44.50 on Friday. The company has a market cap of $2.14 billion, a PE ratio of -22.09 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. The firm’s 50 day moving average price is $40.06 and its 200-day moving average price is $35.86. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week high of $48.89.

Insider Activity

In other news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at $114,264.60. The trade was a 50.75 % decrease in their position. The transaction 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.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIRM. Frazier Life Sciences Management L.P. boosted its position in shares of Mirum Pharmaceuticals by 1.2% in the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock worth $256,245,000 after purchasing an additional 75,000 shares during the period. Barclays PLC lifted its stake in shares of Mirum Pharmaceuticals by 4.6% during the 3rd quarter. Barclays PLC now owns 245,918 shares of the company’s stock valued at $9,592,000 after buying an additional 10,824 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Mirum Pharmaceuticals in the 3rd quarter worth $215,000. Wellington Management Group LLP increased its stake in 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 buying an additional 46,918 shares in the last quarter. Finally, State Street Corp raised its holdings in Mirum Pharmaceuticals by 19.9% during the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after acquiring an additional 297,511 shares during the period.

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.