Mirum Pharmaceuticals (NASDAQ:MIRM) Earns Buy Rating from Analysts at Citigroup

Research analysts at Citigroup assumed coverage on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $145.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 50.52% from the stock’s current price.

Several other research firms also recently commented on MIRM. Leerink Partners cut their price objective on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. HC Wainwright set a $185.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Robert W. Baird raised their price objective on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, TD Cowen raised their price objective on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.64.

Mirum Pharmaceuticals Trading Down 5.1%

Shares of MIRM stock opened at $96.33 on Tuesday. The company has a 50 day moving average of $97.01 and a 200-day moving average of $89.76. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 12-month low of $43.50 and a 12-month high of $114.99. The firm has a market cap of $5.87 billion, a P/E ratio of -7.08 and a beta of 0.50.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The business had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm’s quarterly revenue was up 43.3% on a year-over-year basis. During the same period last year, the business posted ($0.30) earnings per share. Sell-side analysts anticipate that Mirum Pharmaceuticals will post -2.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Peetz sold 40,985 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $17,872,541.82. This trade represents a 17.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joanne Quan sold 7,287 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the sale, the insider owned 18,864 shares in the company, valued at approximately $1,735,110.72. This trade represents a 27.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 76,806 shares of company stock worth $7,064,616. Company insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in MIRM. SG Americas Securities LLC purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth about $1,478,000. Candriam S.C.A. increased its holdings in shares of Mirum Pharmaceuticals by 8.0% in the third quarter. Candriam S.C.A. now owns 403,026 shares of the company’s stock worth $29,546,000 after buying an additional 30,021 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Mirum Pharmaceuticals in the third quarter worth about $22,041,000. TD Asset Management Inc purchased a new position in shares of Mirum Pharmaceuticals in the third quarter worth about $1,129,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Mirum Pharmaceuticals during the 3rd quarter worth approximately $808,000.

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.