HC Wainwright Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price raised by equities research analysts at HC Wainwright from $150.00 to $175.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 61.14% from the company’s current price.

Several other equities analysts have also issued reports on the company. Citizens Jmp reaffirmed a “market outperform” rating and set a $132.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, April 21st. Leerink Partners dropped their price objective on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Evercore set a $126.00 price objective on Mirum Pharmaceuticals in a report on Wednesday, March 4th. Royal Bank Of Canada dropped their price objective on Mirum Pharmaceuticals from $130.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, Stifel Nicolaus raised their price objective on Mirum Pharmaceuticals from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.83.

Mirum Pharmaceuticals Stock Up 12.5%

Mirum Pharmaceuticals stock traded up $12.07 during midday trading on Monday, reaching $108.60. The company’s stock had a trading volume of 1,012,689 shares, compared to its average volume of 814,517. Mirum Pharmaceuticals has a fifty-two week low of $40.00 and a fifty-two week high of $110.49. The company has a quick ratio of 2.55, a current ratio of 2.67 and a debt-to-equity ratio of 0.98. The company has a market cap of $6.62 billion, a P/E ratio of -226.17 and a beta of 0.52. The business has a 50-day simple moving average of $93.78 and a 200-day simple moving average of $85.40.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data 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). The firm had revenue of $148.93 million for the quarter, compared to analysts’ expectations of $141.78 million. Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. On average, research analysts expect that Mirum Pharmaceuticals will post -1.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Eric Bjerkholt sold 7,287 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the transaction, the chief financial officer owned 49,788 shares of the company’s stock, valued at $4,579,500.24. This trade represents a 12.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Peter Radovich sold 16,515 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $1,519,049.70. Following the transaction, the chief operating officer directly owned 40,272 shares in the company, valued at approximately $3,704,218.56. This represents a 29.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 76,806 shares of company stock valued at $7,064,616. Insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp purchased a new position in shares of Mirum Pharmaceuticals during the first quarter worth about $56,000. Summit Securities Group LLC purchased a new position in shares of Mirum Pharmaceuticals during the first quarter worth about $42,000. Sierra Summit Advisors LLC purchased a new position in shares of Mirum Pharmaceuticals during the first quarter worth about $966,000. Strs Ohio grew its holdings in shares of Mirum Pharmaceuticals by 29.6% during the first quarter. Strs Ohio now owns 12,700 shares of the company’s stock worth $1,173,000 after buying an additional 2,900 shares during the last quarter. Finally, AMI Asset Management Corp purchased a new position in shares of Mirum Pharmaceuticals during the first quarter worth about $818,000.

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.