Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Rating Upgraded by TD Cowen

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages also recently issued reports on MIRM. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 25th. HC Wainwright increased their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. JMP Securities set a $81.00 target price on shares of Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $76.50.

Mirum Pharmaceuticals Trading Down 1.1%

Shares of Mirum Pharmaceuticals stock opened at $72.76 on Thursday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -60.13 and a beta of 0.92. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. Mirum Pharmaceuticals has a 12-month low of $36.88 and a 12-month high of $78.10. The firm’s 50-day moving average price is $66.52 and its two-hundred day moving average price is $52.85.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data 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 firm had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The business’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.52) earnings per share. On average, analysts forecast that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt sold 9,578 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were 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 owned 39,945 shares in the company, valued at $3,036,219.45. This trade represents a 19.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jolanda Howe sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president 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. Insiders have sold 117,619 shares of company stock worth $7,313,448 in the last 90 days. Corporate insiders own 14.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MIRM. Squarepoint Ops LLC bought a new position in Mirum Pharmaceuticals in the 4th quarter valued at approximately $897,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Mirum Pharmaceuticals by 16.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,888 shares of the company’s stock valued at $3,055,000 after purchasing an additional 10,427 shares during the period. GAMMA Investing LLC increased its position in Mirum Pharmaceuticals by 4,555.0% during the 1st quarter. GAMMA Investing LLC now owns 5,586 shares of the company’s stock valued at $252,000 after purchasing an additional 5,466 shares during the period. Rhumbline Advisers increased its position in Mirum Pharmaceuticals by 4.4% during the 1st quarter. Rhumbline Advisers now owns 55,434 shares of the company’s stock valued at $2,497,000 after purchasing an additional 2,321 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in Mirum Pharmaceuticals by 1.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 147,193 shares of the company’s stock valued at $6,631,000 after purchasing an additional 1,594 shares during the period.

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.