Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives $57.73 Consensus PT from Analysts

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has been assigned an average rating of “Buy” from the twelve analysts that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $57.73.

Several brokerages recently issued reports on MIRM. Leerink Partners raised their target price on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup boosted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald upped their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 8th.

Mirum Pharmaceuticals Stock Up 2.0 %

NASDAQ:MIRM opened at $45.15 on Wednesday. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $48.89. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -22.35 and a beta of 1.16. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The stock’s 50 day moving average price is $40.47 and its two-hundred day moving average price is $37.03.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. The business had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm’s revenue for the quarter was up 89.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.57) earnings per share. Equities research analysts expect that Mirum Pharmaceuticals will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Mirum Pharmaceuticals by 3.2% during the third quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock worth $36,519,000 after buying an additional 29,017 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of Mirum Pharmaceuticals by 1.2% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock worth $256,245,000 after acquiring an additional 75,000 shares in the last quarter. Barclays PLC increased its stake in Mirum Pharmaceuticals by 4.6% in the third quarter. Barclays PLC now owns 245,918 shares of the company’s stock valued at $9,592,000 after acquiring an additional 10,824 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $215,000. Finally, Wellington Management Group LLP lifted its stake in Mirum Pharmaceuticals by 62.2% during the third quarter. Wellington Management Group LLP now owns 122,334 shares of the company’s stock worth $4,771,000 after purchasing an additional 46,918 shares during the last quarter.

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.