Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Rating Upgraded by Wall Street Zen

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

MIRM has been the topic of a number of other research reports. JMP Securities upped their price target on Mirum Pharmaceuticals from $79.00 to $81.00 and gave the company a “market outperform” rating in a research report on Thursday. Evercore ISI upped their price target on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James Financial reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research report on Thursday. Finally, HC Wainwright upped their price target on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average price target of $72.00.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $59.97 on Friday. The stock has a market capitalization of $3.01 billion, a P/E ratio of -49.56 and a beta of 0.94. Mirum Pharmaceuticals has a 52 week low of $36.86 and a 52 week high of $61.00. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.04 and a current ratio of 3.13. The stock has a fifty day moving average of $50.86 and a 200-day moving average of $47.18.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.19. The business had revenue of $127.79 million for the quarter, compared to analyst estimates of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%. During the same quarter in the previous year, the company posted ($0.52) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 64.1% compared to the same quarter last year. On average, sell-side analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $55.25, for a total value of $2,210,000.00. Following the transaction, the chief executive officer directly owned 138,641 shares of the company’s stock, valued at $7,659,915.25. The trade was a 22.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jolanda Howe sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the transaction, the senior vice president directly owned 2,426 shares in the company, valued at approximately $140,708. This trade represents a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,041 shares of company stock worth $2,840,624 over the last three months. 14.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Mirum Pharmaceuticals by 16.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,022 shares of the company’s stock worth $510,000 after purchasing an additional 1,452 shares during the last quarter. Geode Capital Management LLC grew its holdings in Mirum Pharmaceuticals by 6.8% during the second quarter. Geode Capital Management LLC now owns 1,029,616 shares of the company’s stock valued at $52,405,000 after purchasing an additional 65,951 shares during the period. Nan Fung Trinity HK Ltd. bought a new position in Mirum Pharmaceuticals during the second quarter valued at $7,469,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Mirum Pharmaceuticals by 18.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 423,744 shares of the company’s stock valued at $21,564,000 after purchasing an additional 67,468 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Mirum Pharmaceuticals in the second quarter valued at $435,000.

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.