Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives Consensus Rating of “Buy” from Brokerages

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has been given an average rating of “Buy” by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $51.70.

MIRM has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $58.00 target price on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, February 29th. Stifel Nicolaus initiated coverage on shares of Mirum Pharmaceuticals in a research note on Wednesday, April 17th. They set a “buy” rating and a $48.00 target price on the stock. JMP Securities lifted their target price on shares of Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Finally, SVB Leerink lowered their price target on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $25.84 on Friday. The firm has a market cap of $1.22 billion, a PE ratio of -6.51 and a beta of 1.13. The firm has a fifty day moving average of $26.16 and a 200 day moving average of $28.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.19 and a current ratio of 4.45. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $35.56.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. The business had revenue of $69.55 million for the quarter, compared to analyst estimates of $66.73 million. As a group, research analysts predict that Mirum Pharmaceuticals will post -1.29 EPS for the current fiscal year.

Insider Activity

In related news, CFO Eric Bjerkholt acquired 2,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $25.80 per share, for a total transaction of $51,600.00. Following the acquisition, the chief financial officer now owns 12,000 shares in the company, valued at $309,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Peter Radovich sold 4,303 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the sale, the chief operating officer now directly owns 29,013 shares in the company, valued at approximately $748,535.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Eric Bjerkholt acquired 2,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $25.80 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the chief financial officer now owns 12,000 shares in the company, valued at approximately $309,600. The disclosure for this purchase can be found here. Corporate insiders own 24.06% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MIRM. Avidity Partners Management LP purchased a new stake in Mirum Pharmaceuticals during the third quarter worth about $36,114,000. First Turn Management LLC purchased a new stake in Mirum Pharmaceuticals during the fourth quarter worth about $24,688,000. Adage Capital Partners GP L.L.C. purchased a new stake in Mirum Pharmaceuticals during the third quarter worth about $21,014,000. Cadian Capital Management LP increased its stake in Mirum Pharmaceuticals by 34.8% during the fourth quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock worth $57,119,000 after purchasing an additional 500,000 shares during the period. Finally, Eventide Asset Management LLC increased its stake in Mirum Pharmaceuticals by 14.4% during the third quarter. Eventide Asset Management LLC now owns 3,958,579 shares of the company’s stock worth $125,091,000 after purchasing an additional 499,378 shares during the period.

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.