Citizens Jmp Reiterates “Market Outperform” Rating for Mirum Pharmaceuticals (NASDAQ:MIRM)

Mirum Pharmaceuticals (NASDAQ:MIRM)‘s stock had its “market outperform” rating reiterated by research analysts at Citizens Jmp in a research note issued to investors on Thursday,Benzinga reports. They presently have a $137.00 target price on the stock. Citizens Jmp’s price objective would indicate a potential upside of 39.82% from the company’s previous close.

Several other equities analysts have also recently weighed in on MIRM. TD Cowen lowered their price target on Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Wolfe Research assumed coverage on Mirum Pharmaceuticals in a report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price objective for the company. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Finally, Robert W. Baird set a $123.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.31.

Mirum Pharmaceuticals Trading Down 0.5%

Shares of NASDAQ MIRM traded down $0.53 during mid-day trading on Thursday, hitting $97.98. The stock had a trading volume of 10,601 shares, compared to its average volume of 867,927. The business has a 50 day moving average price of $110.97 and a two-hundred day moving average price of $101.83. Mirum Pharmaceuticals has a 1 year low of $63.23 and a 1 year high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The firm has a market cap of $6.36 billion, a P/E ratio of -6.70 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The business had revenue of $176.24 million for the quarter, compared to analysts’ expectations of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. Mirum Pharmaceuticals’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share. On average, equities analysts anticipate that Mirum Pharmaceuticals will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $98.92, for a total value of $1,978,400.00. Following the sale, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at approximately $19,221,046.28. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the sale, the chief financial officer owned 36,355 shares in the company, valued at $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 133,156 shares of company stock worth $13,763,562. Insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank lifted its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 307.3% in the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock worth $2,211,000 after buying an additional 37,028 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mirum Pharmaceuticals by 7.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock valued at $1,176,000 after buying an additional 1,720 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Mirum Pharmaceuticals in the 1st quarter valued at about $217,000. Finally, Empowered Funds LLC lifted its holdings in shares of Mirum Pharmaceuticals by 15.4% in the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock valued at $1,729,000 after acquiring an additional 5,120 shares during the last quarter.

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.