Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Up 8.9% Following Analyst Upgrade

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price rose 8.9% during trading on Friday 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 $74.38 and last traded at $76.52. Approximately 105,124 shares changed hands during trading, a decline of 81% from the average daily volume of 563,371 shares. The stock had previously closed at $70.28.

A number of other research analysts have also recently commented on MIRM. JPMorgan Chase & Co. upped their target price on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday, December 8th. Wall Street Zen raised shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 26th. JMP Securities set a $95.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, November 5th. Finally, Leerink Partners set a $100.00 price target on Mirum Pharmaceuticals in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $100.25.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. MCF Advisors LLC raised its holdings in Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Mirum Pharmaceuticals during the third quarter worth approximately $33,000. Comerica Bank grew its stake in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the period. Quarry LP acquired a new position in Mirum Pharmaceuticals in the third quarter valued at $41,000. Finally, CWM LLC raised its stake in Mirum Pharmaceuticals by 30.8% during the third quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the period.

Mirum Pharmaceuticals Stock Performance

The stock’s fifty day simple moving average is $70.49 and its two-hundred day simple moving average is $64.45. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -90.39 and a beta of 0.42. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.16 and a current ratio of 3.31.

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

Mirum Pharmaceuticals Company Profile

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.