A History of Outperforming Analyst Forecasts and Beating the Odds: Mirum Pharmaceuticals Inc. (MIRM)

Mirum Pharmaceuticals Inc. (NASDAQ: MIRM) stock jumped 1.51% on Friday to $32.85 against a previous-day closing price of $32.36. With 2.08 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.59 million shares. The 52-week range on MIRM shows that it touched its highest point at $32.53 and its lowest point at $17.32 during that stretch. It currently has a 1-year price target of $52.00. Beta for the stock currently stands at 1.24.

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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 up-trending over the past week, with a rise of 10.49%, but this was up by 33.00% over a month. Three-month performance surged to 16.95% while six-month performance rose 41.11%. The stock gained 44.40% in the past year, while it has gained 68.46% so far this year. A look at the trailing 12-month EPS for MIRM yields -4.75 with Next year EPS estimates of 0.21. For the next quarter, that number is -1.48. This implies an EPS growth rate of -44.70% for this year and 104.60% for next year.

Float and Shares Shorts:

At present, 38.11 million MIRM shares are outstanding with a float of 35.92 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.08 million, which was 13.27% higher than short shares on Jul 30, 2023. In addition to Mr. Christopher Peetz as the firm’s Pres, CEO & Director, Mr. Peter Radovich M.B.A., Ph.D. serves as its Chief Operating Officer.

Institutional Ownership:

Through their ownership of 84.83% of MIRM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.50% of MIRM, in contrast to 38.66% held by mutual funds. Shares owned by individuals account for 32.76%. As the largest shareholder in MIRM with 9.03% of the stake, Eventide Asset Management LLC holds 3,459,201 shares worth 3,459,201. A second-largest stockholder of MIRM, BlackRock Fund Advisors, holds 1,848,888 shares, controlling over 4.83% of the firm’s shares. Rock Springs Capital Management L is the third largest shareholder in MIRM, holding 1,820,733 shares or 4.75% stake. With a 5.38% stake in MIRM, the Eventide Healthcare & Life Scienc is the largest stakeholder. A total of 2,059,201 shares are owned by the mutual fund manager. The Catalyst Eventide Gilead Fund, which owns about 3.66% of MIRM stock, is the second-largest Mutual Fund holder. It holds 1,400,000 shares valued at 37.0 million. Vanguard Total Stock Market ETF holds 2.71% of the stake in MIRM, owning 1,037,813 shares worth 27.43 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, MIRM reported revenue of $17.48M and operating income of -$31.44M. The EBITDA in the recently reported quarter was -$29.14M and diluted EPS was -$0.84.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MIRM since 0 analysts follow the stock currently. 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 $84.00 and a low target of $34.00, the average target price over the next 12 months is $52.00. Based on these targets, MIRM could surge 155.71% to reach the target high and rise by 3.5% to reach the target low. Reaching the average price target will result in a growth of 58.3% 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.

Summary of Insider Activity:

Insiders traded MIRM stock several times over the past three months with 2 Buys and 5 Sells. In these transactions, 2,605 shares were bought while 10,267 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 342,012 while 16,423,604 shares were sold.

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