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Mirum Pharmaceuticals Inc. (NASDAQ: MIRM): Getting A Free Pass?

Mirum Pharmaceuticals Inc. (NASDAQ:MIRM) shares, rose in value on Friday, 05/13/22, with the stock price up by 7.72% to the previous day’s close as strong demand from buyers drove the stock to $24.00.

Actively observing the price movement in the last trading, the stock closed the session at $22.28, falling within a range of $22.33 and $24.67. The value of beta (5-year monthly) was 1.79. Referring to stock’s 52-week performance, its high was $28.65, and the low was $12.82. On the whole, MIRM has fluctuated by -12.57% over the past month.

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With the market capitalization of Mirum Pharmaceuticals Inc. currently standing at about $756.72 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 07, 2022 – Mar 11, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.26, which is expected to increase to -$1.35 for fiscal year -$4.58 and then to about -$5.14 by fiscal year 2022. Data indicates that the EPS growth is expected to be -12.00% in 2022, while the next year’s EPS growth is forecast to be -12.20%.

Analysts have estimated the company’s revenue for the quarter at $59.81 million, with a low estimate of $3 million and a high estimate of $145.9 million.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MIRM’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MIRM currently trading nearly -2.76% and 0.83% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.74, while the 7-day volatility ratio is showing 9.34% which for the 30-day chart, stands at 7.18%. Furthermore, Mirum Pharmaceuticals Inc. (MIRM)’s average true range (ATR) is 1.84.

Data on historical trading for Mirum Pharmaceuticals Inc. (NASDAQ:MIRM) indicates that the trading volumes over the past 3 months, they’ve averaged 168.96K. According to company’s latest data on outstanding shares, there are 30.54 million shares outstanding.

Nearly 0.90% of Mirum Pharmaceuticals Inc.’s shares belong to company insiders and institutional investors own 82.10% of the company’s shares. The stock has risen by 50.47% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MIRM stock heading into the next quarter.

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