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

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

MIRM has been the subject of several other research reports. Stifel Nicolaus set a $89.00 target price on shares of Mirum Pharmaceuticals and gave the company a “buy” rating in a report on Monday, August 11th. TD Cowen upgraded Mirum Pharmaceuticals to a “strong-buy” rating in a report on Thursday. Raymond James Financial reissued a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. HC Wainwright raised their price objective on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, JMP Securities set a $81.00 target price on shares of Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $76.50.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $72.76 on Friday. Mirum Pharmaceuticals has a 52 week low of $36.88 and a 52 week high of $78.10. The stock’s fifty day moving average is $66.52 and its two-hundred day moving average is $52.91. The company has a market capitalization of $3.66 billion, a P/E 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 (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.19. The firm had revenue of $127.79 million for 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%. Mirum Pharmaceuticals’s revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. Equities analysts expect that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, Director Laura Brege sold 17,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total value of $1,264,800.00. Following the sale, the director directly owned 15,703 shares in the company, valued at $1,168,303.20. This trade represents a 51.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Bjerkholt sold 9,578 shares of the stock in a transaction dated 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 approximately $3,036,219.45. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,619 shares of company stock valued at $7,313,448 in the last three months. 14.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth about $897,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Mirum Pharmaceuticals by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,888 shares of the company’s stock worth $3,055,000 after buying an additional 10,427 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Mirum Pharmaceuticals by 4,555.0% during the first quarter. GAMMA Investing LLC now owns 5,586 shares of the company’s stock worth $252,000 after buying an additional 5,466 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Mirum Pharmaceuticals by 4.4% during the first quarter. Rhumbline Advisers now owns 55,434 shares of the company’s stock worth $2,497,000 after buying an additional 2,321 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Mirum Pharmaceuticals by 1.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 147,193 shares of the company’s stock worth $6,631,000 after buying an additional 1,594 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.