Mirum Pharmaceuticals (NASDAQ:MIRM) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $130.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Evercore set a $126.00 price target on Mirum Pharmaceuticals in a report on Wednesday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday, December 8th. Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. Leerink Partners dropped their target price on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $110.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $89.43 on Monday. Mirum Pharmaceuticals has a 12 month low of $36.88 and a 12 month high of $109.28. The stock has a fifty day moving average price of $96.54 and a 200-day moving average price of $81.45. The company has a current ratio of 2.67, a quick ratio of 2.55 and a debt-to-equity ratio of 0.98. The firm has a market cap of $5.40 billion, a PE ratio of -186.31 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The business had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. During the same period in the previous year, the business earned $1.00 EPS. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. Equities research analysts predict that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Patrick J. Heron purchased 131,425 shares of Mirum Pharmaceuticals stock in a transaction on Friday, January 23rd. The stock was bought at an average cost of $68.48 per share, with a total value of $8,999,984.00. Following the transaction, the director owned 459,010 shares of the company’s stock, valued at $31,433,004.80. This represents a 40.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Peetz sold 40,985 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the completion of the sale, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $17,872,541.82. The trade was a 17.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 121,942 shares of company stock worth $11,416,645 in the last ninety days. 22.87% of the stock is owned by company insiders.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in Mirum Pharmaceuticals by 30.8% in the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Mirum Pharmaceuticals by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock valued at $2,189,000 after purchasing an additional 176 shares during the period. MCF Advisors LLC lifted its stake in shares of Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Mirum Pharmaceuticals by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock worth $253,000 after buying an additional 200 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Mirum Pharmaceuticals by 34.0% during the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock valued at $70,000 after buying an additional 243 shares during the period.

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.