Mirum Pharmaceuticals Inc. (NASDAQ: MIRM) stock fell -0.86% on Wednesday to $19.54 against a previous-day closing price of $19.71. With 0.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.4 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $20.34 whereas the lowest price it dropped to was $19.43. The 52-week range on MIRM shows that it touched its highest point at $30.55 and its lowest point at $12.82 during that stretch. It currently has a 1-year price target of $56.00. Beta for the stock currently stands at 1.42.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MIRM was down-trending over the past week, with a drop of -0.20%, but this was down by -17.66% over a month. Three-month performance dropped to -24.15% while six-month performance fell -23.97%. The stock gained 40.17% in the past year, while it has gained 22.51% so far this year. A look at the trailing 12-month EPS for MIRM yields -1.14 with Next year EPS estimates of -2.83. For the next quarter, that number is -0.97. This implies an EPS growth rate of 32.30% for this year and 29.20% for next year.
Float and Shares Shorts:
At present, 36.87 million MIRM shares are outstanding with a float of 35.24 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.05 million, which was 5.58% higher than short shares on Sep 14, 2022. In addition to Mr. Christopher Peetz as the firm’s Pres, CEO & Director, Dr. Ian Clements serves as its Chief Financial Officer.
Through their ownership of 80.98% of MIRM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.70% of MIRM, in contrast to 24.57% held by mutual funds. Shares owned by individuals account for 23.68%. As the largest shareholder in MIRM with 5.61% of the stake, Deerfield Management Co. LP holds 2,032,335 shares worth 2,032,335. A second-largest stockholder of MIRM, Rock Springs Capital Management L, holds 1,795,733 shares, controlling over 4.96% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MIRM, holding 1,413,813 shares or 3.90% stake. With a 2.76% stake in MIRM, the Polar Capital Funds Plc – Biotech is the largest stakeholder. A total of 1,000,000 shares are owned by the mutual fund manager. The Franklin Small Cap Value Fund, which owns about 2.25% of MIRM stock, is the second-largest Mutual Fund holder. It holds 813,457 shares valued at 18.34 million. Vanguard Total Stock Market Index holds 2.15% of the stake in MIRM, owning 777,288 shares worth 17.53 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MIRM since 8 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MIRM analysts setting a high price target of $88.00 and a low target of $31.00, the average target price over the next 12 months is $56.00. Based on these targets, MIRM could surge 350.36% to reach the target high and rise by 58.65% to reach the target low. Reaching the average price target will result in a growth of 186.59% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MIRM will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of -$3.81 being high and -$4.73 being low. For MIRM, this leads to a yearly average estimate of -$4.09. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Mirum Pharmaceuticals Inc. surprised analysts by $0.03 when it reported -$1.02 EPS against a consensus estimate of -$1.05. The surprise factor in the prior quarter was $0.30. Based on analyst estimates, the high estimate for the next quarter is -$0.78 and the low estimate is -$1.67. The average estimate for the next quarter is thus -$1.05.
Summary of Insider Activity:
Insiders traded MIRM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 94,505 while 38,478 shares were sold.