Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $66.00

Mirum Pharmaceuticals (NASDAQ:MIRMFree Report) had its target price upped by HC Wainwright from $58.00 to $66.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently weighed in on MIRM. Citigroup boosted their price target on Mirum Pharmaceuticals from $37.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Stifel Nicolaus restated a buy rating and set a $48.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday. SVB Leerink reduced their price target on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an outperform rating for the company in a research note on Monday, March 18th. Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $34.00 to $39.00 and gave the company an outperform rating in a research report on Monday. Finally, Morgan Stanley cut their target price on shares of Mirum Pharmaceuticals from $57.00 to $53.00 and set an overweight rating for the company in a research report on Friday, May 10th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $53.64.

Read Our Latest Stock Analysis on Mirum Pharmaceuticals

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock opened at $29.25 on Monday. Mirum Pharmaceuticals has a 1 year low of $23.14 and a 1 year high of $35.56. The firm’s 50-day moving average is $25.39 and its 200 day moving average is $27.24. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -7.88 and a beta of 1.10. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.68 and a quick ratio of 3.47.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.14). The firm had revenue of $69.22 million during the quarter, compared to the consensus estimate of $69.71 million. Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. Sell-side analysts anticipate that Mirum Pharmaceuticals will post -1.39 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In related news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Saira Ramasastry sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Peter Radovich sold 4,303 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $25.80, for a total value of $111,017.40. Following the completion of the sale, the chief operating officer now owns 29,013 shares of the company’s stock, valued at approximately $748,535.40. The disclosure for this sale can be found here. Corporate insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after buying an additional 704,659 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in Mirum Pharmaceuticals by 64.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after acquiring an additional 63,871 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after acquiring an additional 432,824 shares during the last quarter. Affinity Asset Advisors LLC lifted its stake in Mirum Pharmaceuticals by 220.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company’s stock worth $4,019,000 after purchasing an additional 110,000 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Mirum Pharmaceuticals by 0.9% during the 1st quarter. William Blair Investment Management LLC now owns 627,272 shares of the company’s stock valued at $15,757,000 after purchasing an additional 5,494 shares during the last quarter.

About Mirum Pharmaceuticals

(Get Free Report)

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.

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