Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 1-Year High Following Analyst Upgrade

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price reached a new 52-week high on Saturday after Citizens Jmp raised their price target on the stock from $95.00 to $140.00. Citizens Jmp currently has a market outperform rating on the stock. Mirum Pharmaceuticals traded as high as $79.95 and last traded at $77.74, with a volume of 3828816 shares changing hands. The stock had previously closed at $70.28.

Several other research analysts have also commented on MIRM. Robert W. Baird lifted their price objective on Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. Morgan Stanley lifted their price target on Mirum Pharmaceuticals from $81.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Raymond James Financial restated a “strong-buy” rating and issued a $110.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, December 11th. JPMorgan Chase & Co. raised their price target on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Finally, Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $100.25.

Trending Headlines about Mirum Pharmaceuticals

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Citizens Jmp raised its price target on MIRM from $95 to $140 and maintained a “Market Outperform” rating, signaling strong analyst conviction and a large implied upside vs. the prior quote. Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $140.00 at Citizens Jmp
• Positive Sentiment: The analyst upgrade/price-target increase helped push MIRM to a new one?year high, reinforcing momentum and attracting additional buying interest. Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High on Analyst Upgrade
• Neutral Sentiment: Mirum announced additional private-placement financing with TCGX to raise capital. This strengthens liquidity and supports operations/strategy but may be dilutive depending on terms; investors should watch placement size and conversion/pricing details. Mirum Pharmaceuticals Announces Additional Private Placement Financing With TCGX

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of MIRM. MCF Advisors LLC lifted its stake in Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth $33,000. Comerica Bank boosted its stake in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares in the last quarter. Quarry LP acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth $41,000. Finally, CWM LLC raised its position in shares of Mirum Pharmaceuticals by 30.8% during the third quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the period.

Mirum Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 3.31 and a quick ratio of 3.16. The firm has a market capitalization of $4.00 billion, a PE ratio of -90.39 and a beta of 0.42. The firm has a fifty day moving average price of $70.49 and a 200 day moving average price of $64.58.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.The firm had revenue of $133.01 million for the quarter, compared to the consensus estimate of $130.11 million. During the same quarter in the previous year, the company earned ($0.30) EPS. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. Research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.