Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Expected to Rise, TD Cowen Analyst Says

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target upped by stock analysts at TD Cowen from $117.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 41.34% from the stock’s current price.

A number of other analysts have also recently issued reports on MIRM. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $110.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, December 11th. Citizens Jmp decreased their target price on Mirum Pharmaceuticals from $140.00 to $132.00 and set a “market outperform” rating on the stock in a report on Thursday, February 26th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. Royal Bank Of Canada cut their price target on Mirum Pharmaceuticals from $130.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Mirum Pharmaceuticals from $98.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $117.67.

Mirum Pharmaceuticals Stock Down 0.5%

Shares of MIRM stock opened at $88.44 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.55 and a current ratio of 2.67. The firm’s 50-day moving average is $96.36 and its 200-day moving average is $81.75. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of -184.25 and a beta of 0.52. Mirum Pharmaceuticals has a 52-week low of $36.88 and a 52-week high of $109.28.

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

Insider Activity at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 7,287 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the transaction, the chief financial officer owned 49,788 shares of the company’s stock, valued at approximately $4,579,500.24. This represents a 12.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $435,249.36. Following the transaction, the senior vice president owned 8,429 shares in the company, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 121,942 shares of company stock valued at $11,416,645. Insiders own 14.36% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares during the period. AQR Capital Management LLC grew its stake in shares of Mirum Pharmaceuticals by 307.3% in the first quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock valued at $2,211,000 after acquiring an additional 37,028 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mirum Pharmaceuticals by 7.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock worth $1,176,000 after acquiring an additional 1,720 shares during the period. Caxton Associates LLP bought a new position in Mirum Pharmaceuticals during the first quarter worth about $217,000. Finally, Empowered Funds LLC raised its stake in Mirum Pharmaceuticals by 15.4% in the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after purchasing an additional 5,120 shares in the last quarter.

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.