Analysts Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Price Target at $60.64

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has been assigned a consensus rating of “Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $60.64.

MIRM has been the topic of a number of recent analyst reports. JMP Securities raised their price target on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a “market outperform” rating in a research report on Friday, May 9th. HC Wainwright raised their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Raymond James reissued a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research report on Tuesday. Finally, Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th.

Mirum Pharmaceuticals Stock Down 0.6%

Mirum Pharmaceuticals stock opened at $45.01 on Wednesday. Mirum Pharmaceuticals has a 1-year low of $23.83 and a 1-year high of $54.23. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -22.28 and a beta of 0.95. The firm’s fifty day moving average price is $42.96 and its two-hundred day moving average price is $44.43. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. During the same period last year, the firm earned ($0.54) earnings per share. The business’s quarterly revenue was up 61.2% compared to the same quarter last year. On average, equities research analysts predict that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Peter Radovich sold 7,879 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.21, for a total transaction of $348,330.59. Following the completion of the transaction, the chief operating officer now owns 18,672 shares of the company’s stock, valued at approximately $825,489.12. The trade was a 29.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the sale, the senior vice president now owns 4,841 shares of the company’s stock, valued at approximately $214,698.35. The trade was a 92.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,764 shares of company stock worth $4,109,161. Insiders own 14.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. grew its position in Mirum Pharmaceuticals by 3.4% during the 1st 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 during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Mirum Pharmaceuticals by 2.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company’s stock worth $189,481,000 after purchasing an additional 101,358 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 115,327 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Mirum Pharmaceuticals by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company’s stock worth $58,831,000 after acquiring an additional 138,623 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Mirum Pharmaceuticals by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock worth $39,016,000 after acquiring an additional 7,147 shares in the last quarter.

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.