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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target lifted by Citigroup from $184.00 to $194.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s target price points to a potential upside of 106.88% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Leerink Partners decreased their price objective on shares of Mirum Pharmaceuticals from $154.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, November 5th. Stifel Nicolaus increased their target price on shares of Mirum Pharmaceuticals from $136.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. UBS Group set a $137.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. TD Cowen lifted their price target on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Finally, Cantor Fitzgerald lifted their price target on shares of Mirum Pharmaceuticals from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $155.56.

Mirum Pharmaceuticals Stock Down 0.7%

Mirum Pharmaceuticals stock traded down $0.64 during midday trading on Wednesday, hitting $93.78. The stock had a trading volume of 167,913 shares, compared to its average volume of 833,788. The company has a current ratio of 2.07, a quick ratio of 1.98 and a debt-to-equity ratio of 1.28. The stock has a market cap of $6.12 billion, a P/E ratio of -6.06 and a beta of 0.75. Mirum Pharmaceuticals has a 12 month low of $63.23 and a 12 month high of $130.00. The business has a fifty day moving average price of $89.13 and a 200 day moving average price of $98.46.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.38). The firm had revenue of $185.72 million for the quarter, compared to analyst estimates of $178.07 million. Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 97.25%. The company’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. Research analysts predict that Mirum Pharmaceuticals will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the senior vice president owned 1,274 shares of the company’s stock, valued at approximately $127,400. The trade was a 96.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the transaction, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 90,658 shares of company stock valued at $8,826,200. 8.32% of the stock is owned by company insiders.

Institutional Trading of Mirum Pharmaceuticals

Several hedge funds have recently bought and sold shares of MIRM. Jupiter Topco LLC bought a new position in Mirum Pharmaceuticals in the 2nd quarter worth about $691,672,000. BlackRock Inc. bought a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $513,945,000. William Blair Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $164,453,000. Janus Henderson Group PLC boosted its position in shares of Mirum Pharmaceuticals by 14.5% during the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock worth $641,764,000 after buying an additional 880,505 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Mirum Pharmaceuticals during the second quarter worth approximately $78,434,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for rare liver and other serious diseases. Founded in 2018, the company works on therapies for conditions with limited treatment options. Its commercial products include Livmarli (maralixibat), an oral treatment for cholestatic pruritus associated with Alagille syndrome and, in the United States, progressive familial intrahepatic cholestasis. Mirum also markets Cholbam (cholic acid) for certain bile acid synthesis disorders and Chenodal (chenodiol) for cerebrotendinous xanthomatosis.