Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 6.6% After Analyst Upgrade

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares were up 6.6% on Thursday after Citigroup raised their price target on the stock from $65.00 to $68.00. Citigroup currently has a buy rating on the stock. Mirum Pharmaceuticals traded as high as $47.00 and last traded at $46.82. Approximately 207,797 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 556,627 shares. The stock had previously closed at $43.92.

MIRM has been the topic of a number of other research reports. Evercore ISI upped their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Cantor Fitzgerald upped their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a report on Friday, October 11th. Robert W. Baird upped their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Leerink Partners upped their target price on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $57.73.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the sale, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at approximately $114,264.60. This represents a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.87% of the stock is owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC increased its holdings in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after buying an additional 1,127 shares during the last quarter. Amalgamated Bank increased its holdings in Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after buying an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after purchasing an additional 318 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Mirum Pharmaceuticals in the third quarter worth $215,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter worth $213,000.

Mirum Pharmaceuticals Trading Down 3.8 %

The stock’s 50 day moving average price is $40.06 and its 200-day moving average price is $35.86. The company has a quick ratio of 3.09, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $2.14 billion, a PE ratio of -22.09 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. The firm had revenue of $90.38 million during the quarter, compared to analysts’ expectations of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company’s revenue for the quarter was up 89.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.57) earnings per share. On average, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.81 earnings per share for the current fiscal year.

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.