Wall Street Zen Upgrades Mirum Pharmaceuticals (NASDAQ:MIRM) to “Strong-Buy”

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

Several other research analysts also recently weighed in on MIRM. Evercore ISI increased their price target on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. HC Wainwright increased their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, August 11th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $74.13.

Mirum Pharmaceuticals Trading Up 4.8%

Shares of MIRM stock opened at $67.93 on Friday. Mirum Pharmaceuticals has a 12-month low of $36.86 and a 12-month high of $69.00. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The firm’s 50 day moving average is $52.89 and its 200 day moving average is $47.79. The stock has a market capitalization of $3.41 billion, a P/E ratio of -56.14 and a beta of 0.94.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The company had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $107.91 million. During the same quarter last year, the company posted ($0.52) earnings per share. The firm’s quarterly revenue was up 64.1% on a year-over-year basis. Research analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the sale, the senior vice president directly owned 2,426 shares in the company, valued at $140,708. This trade represents a 80.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares in the company, valued at approximately $8,595,742. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,041 shares of company stock worth $5,320,624 over the last 90 days. Insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of MIRM. Russell Investments Group Ltd. increased its holdings in Mirum Pharmaceuticals by 8.1% in the 4th quarter. Russell Investments Group Ltd. now owns 25,960 shares of the company’s stock valued at $1,073,000 after acquiring an additional 1,945 shares during the last quarter. Invesco Ltd. increased its holdings in Mirum Pharmaceuticals by 5.2% in the 4th quarter. Invesco Ltd. now owns 299,279 shares of the company’s stock valued at $12,375,000 after acquiring an additional 14,747 shares during the last quarter. Legal & General Group Plc increased its holdings in Mirum Pharmaceuticals by 3.5% in the 4th quarter. Legal & General Group Plc now owns 40,820 shares of the company’s stock valued at $1,688,000 after acquiring an additional 1,389 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Mirum Pharmaceuticals by 67.5% in the 4th quarter. Renaissance Technologies LLC now owns 101,248 shares of the company’s stock valued at $4,187,000 after acquiring an additional 40,800 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Mirum Pharmaceuticals by 8.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company’s stock valued at $172,000 after acquiring an additional 312 shares during 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.