Mirum Pharmaceuticals (NASDAQ:MIRM) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a report published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $95.00 price objective on the stock.

MIRM has been the topic of a number of other research reports. Evercore ISI increased their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. HC Wainwright increased their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded Mirum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $76.50.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $74.26 on Wednesday. The company has a 50 day simple moving average of $65.68 and a 200-day simple moving average of $52.44. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -61.37 and a beta of 0.92. Mirum Pharmaceuticals has a 52-week low of $36.88 and a 52-week high of $78.10.

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

Insiders Place Their Bets

In related news, CFO Eric Bjerkholt sold 9,578 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $76.01, for a total value of $728,023.78. Following the completion of the transaction, the chief financial officer directly owned 39,945 shares in the company, valued at approximately $3,036,219.45. The trade was a 19.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 of the company’s stock, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,619 shares of company stock valued at $7,313,448. 14.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in shares of Mirum Pharmaceuticals by 0.4% in the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock valued at $2,189,000 after purchasing an additional 176 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Mirum Pharmaceuticals by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company’s stock valued at $504,000 after purchasing an additional 215 shares during the last quarter. Palumbo Wealth Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 4.2% in the second quarter. Palumbo Wealth Management LLC now owns 5,604 shares of the company’s stock valued at $285,000 after purchasing an additional 228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Mirum Pharmaceuticals by 14.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,914 shares of the company’s stock valued at $97,000 after purchasing an additional 248 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the last quarter.

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.