Mirum Pharmaceuticals (NASDAQ:MIRM) Announces Quarterly Earnings Results

Mirum Pharmaceuticals (NASDAQ:MIRM) announced its quarterly earnings results on Tuesday. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15, Briefing.com reports. 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 during the quarter, compared to analysts’ expectations of $81.99 million. During the same period last year, the business earned ($0.57) earnings per share. The business’s revenue for the quarter was up 89.4% on a year-over-year basis. Mirum Pharmaceuticals updated its FY 2024 guidance to EPS.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $46.26 on Friday. The company has a current ratio of 3.34, a quick ratio of 3.09 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $2.22 billion, a P/E ratio of -22.90 and a beta of 1.16. The business has a 50 day simple moving average of $39.96 and a 200-day simple moving average of $35.79. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $48.89.

Analysts Set New Price Targets

A number of research firms have commented on MIRM. Evercore ISI upped their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird increased their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday. Leerink Partners boosted their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Citigroup raised their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $57.73.

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.