Morgan Stanley Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective upped by equities research analysts at Morgan Stanley from $95.00 to $123.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 19.16% from the stock’s previous close.

Several other brokerages have also issued reports on MIRM. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Mirum Pharmaceuticals in a report on Monday, December 8th. Citizens Jmp increased their price objective on Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a research report on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.25.

Mirum Pharmaceuticals Price Performance

MIRM opened at $103.22 on Friday. The firm has a 50-day moving average price of $80.29 and a 200-day moving average price of $72.45. Mirum Pharmaceuticals has a twelve month low of $36.88 and a twelve month high of $103.81. 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 company has a market capitalization of $5.30 billion, a price-to-earnings ratio of -120.02 and a beta of 0.48.

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

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 842 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $96.19, for a total transaction of $80,991.98. Following the transaction, the senior vice president directly owned 3,700 shares of the company’s stock, valued at $355,903. This represents a 18.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Peter Radovich sold 3,143 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $96.19, for a total transaction of $302,325.17. Following the transaction, the chief operating officer owned 23,286 shares in the company, valued at $2,239,880.34. This represents a 11.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,429 shares of company stock worth $3,039,396. Insiders own 14.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock valued at $57,965,000 after purchasing an additional 672,118 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Mirum Pharmaceuticals by 709.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock worth $44,889,000 after buying an additional 536,674 shares in the last quarter. Voloridge Investment Management LLC grew its position in Mirum Pharmaceuticals by 2,116.6% in the third quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock worth $28,560,000 after acquiring an additional 371,999 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $23,250,000. Finally, William Blair Investment Management LLC purchased a new position in Mirum Pharmaceuticals during the third quarter worth $22,965,000.

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.