Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) announced its quarterly earnings data on Tuesday. The company reported ($0.30) EPS 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 40.98%. The business had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. During the same quarter in the prior year, the business earned ($0.57) earnings per share. The firm’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 Stock Performance

NASDAQ MIRM opened at $45.26 on Thursday. Mirum Pharmaceuticals has a 1-year low of $23.14 and a 1-year high of $45.81. The company has a 50 day moving average of $39.96 and a 200-day moving average of $35.79. The company has a current ratio of 3.28, a quick ratio of 3.09 and a debt-to-equity ratio of 1.34. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -21.74 and a beta of 1.16.

Wall Street Analyst Weigh In

Several research firms have commented on MIRM. Cantor Fitzgerald upped their price target on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Leerink Partners upped their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI lifted 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. Robert W. Baird boosted 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. Finally, Citigroup raised their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $57.73.

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.