Leerink Partnrs Has Strong Estimate for MIRM FY2024 Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – Equities researchers at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Mirum Pharmaceuticals in a report released on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings per share of ($1.63) 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.

MIRM has been the topic of several other reports. Cantor Fitzgerald increased their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note 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 stock an “outperform” rating in a research report on Wednesday. Leerink Partners boosted their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday. Finally, Evercore ISI raised their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals Stock Down 3.8 %

Shares of MIRM opened at $44.50 on Friday. The company has a quick ratio of 3.09, a current ratio of 3.34 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 50-day moving average price is $40.12 and its 200-day moving average price is $36.07. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -22.03 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released 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. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period in the prior year, the firm earned ($0.57) EPS. The business’s revenue for the quarter was up 89.4% on a year-over-year basis.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Quest Partners LLC increased its stake in Mirum Pharmaceuticals by 7,513.3% in the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after purchasing an additional 1,127 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after buying an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Mirum Pharmaceuticals by 22.6% during the third 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. ProShare Advisors LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at about $213,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Mirum Pharmaceuticals during the third quarter worth about $215,000.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the transaction, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.87% of the stock is currently owned by company insiders.

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.