Mirum Pharmaceuticals (NASDAQ:MIRM) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research note released on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $95.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Raymond James Financial restated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 25th. HC Wainwright raised their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus set a $89.00 target price on shares of Mirum Pharmaceuticals and gave the company a “buy” rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $76.50.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock opened at $72.76 on Wednesday. The stock’s 50 day simple moving average is $66.52 and its two-hundred day simple moving average is $52.85. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -60.13 and a beta of 0.92. Mirum Pharmaceuticals has a fifty-two week low of $36.88 and a fifty-two week high of $78.10.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The company had revenue of $127.79 million during the quarter, compared to analysts’ expectations of $107.91 million. During the same quarter last year, the business posted ($0.52) EPS. The firm’s revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the transaction, the senior vice president directly owned 2,426 shares of the company’s stock, valued at approximately $140,708. The trade was a 80.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura Brege sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total transaction of $1,264,800.00. Following the completion of the transaction, the director owned 15,703 shares in the company, valued at approximately $1,168,303.20. This represents a 51.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,619 shares of company stock valued at $7,313,448 in the last quarter. 14.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Frazier Life Sciences Management L.P. lifted its holdings in shares of Mirum Pharmaceuticals by 3.4% during the first quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company’s stock valued at $306,120,000 after purchasing an additional 224,729 shares in the last quarter. Eventide Asset Management LLC raised its position in Mirum Pharmaceuticals by 4.4% in the 2nd quarter. Eventide Asset Management LLC now owns 2,637,485 shares of the company’s stock worth $134,224,000 after buying an additional 110,485 shares during the last quarter. Vanguard Group Inc. raised its position in Mirum Pharmaceuticals by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company’s stock worth $114,430,000 after buying an additional 115,327 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mirum Pharmaceuticals by 6.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,029,616 shares of the company’s stock valued at $52,405,000 after acquiring an additional 65,951 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Mirum Pharmaceuticals during the 1st quarter valued at about $29,495,000.

About Mirum Pharmaceuticals

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.