Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $72.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective hoisted by equities research analysts at HC Wainwright from $66.00 to $72.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 53.29% from the stock’s current price.

MIRM has been the topic of a number of other reports. Citigroup increased their price objective on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $58.20.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $46.97 on Friday. Mirum Pharmaceuticals has a 12-month low of $23.14 and a 12-month high of $54.23. The firm’s fifty day simple moving average is $46.84 and its two-hundred day simple moving average is $43.35. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $2.25 billion, a P/E ratio of -23.25 and a beta of 0.96.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The company had revenue of $99.41 million for the quarter, compared to analyst estimates of $96.64 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. Analysts forecast that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 9,102 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $48.22, for a total value of $438,898.44. Following the completion of the transaction, the chief executive officer now owns 115,920 shares in the company, valued at approximately $5,589,662.40. This represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jolanda Howe sold 750 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $32,115.00. Following the sale, the senior vice president now owns 2,926 shares in the company, valued at $125,291.32. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,915 shares of company stock valued at $1,897,920 in the last 90 days. 22.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Large investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC acquired a new position in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $28,913,000. Loomis Sayles & Co. L P acquired a new stake in Mirum Pharmaceuticals in the 3rd quarter valued at $19,473,000. State Street Corp increased its holdings in Mirum Pharmaceuticals by 19.9% in the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after acquiring an additional 297,511 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Mirum Pharmaceuticals during the third quarter worth $10,136,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth about $10,611,000.

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.