Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High Following Analyst Upgrade

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) hit a new 52-week high during mid-day trading on Saturday after Citizens Jmp raised their price target on the stock from $95.00 to $140.00. Citizens Jmp currently has a market outperform rating on the stock. Mirum Pharmaceuticals traded as high as $79.95 and last traded at $77.74, with a volume of 3828816 shares traded. The stock had previously closed at $70.28.

A number of other analysts have also recently commented on the stock. Evercore ISI upped their price target on shares of Mirum Pharmaceuticals from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Wall Street Zen raised Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 26th. JMP Securities set a $95.00 target price on Mirum Pharmaceuticals in a research report on Wednesday, November 5th. JPMorgan Chase & Co. raised their target price on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $100.25.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $2,027,000. CIBC Bancorp USA Inc. bought a new position in Mirum Pharmaceuticals in the 3rd quarter worth approximately $315,000. PharVision Advisers LLC purchased a new position in Mirum Pharmaceuticals in the 3rd quarter valued at approximately $273,000. Virtus Advisers LLC purchased a new position in Mirum Pharmaceuticals in the 3rd quarter valued at approximately $293,000. Finally, Voleon Capital Management LP bought a new stake in Mirum Pharmaceuticals during the 3rd quarter valued at $6,343,000.

Mirum Pharmaceuticals Trading Up 10.6%

The firm has a 50-day simple moving average of $70.49 and a 200-day simple moving average of $64.45. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06. The stock has a market cap of $4.00 billion, a PE ratio of -90.39 and a beta of 0.42.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.15. The company had revenue of $133.01 million during the quarter, compared to analysts’ expectations of $130.11 million. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) earnings per share. Equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.