HC Wainwright Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target upped by investment analysts at HC Wainwright from $102.00 to $130.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 37.87% from the stock’s current price.

A number of other equities research 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 note on Thursday, December 11th. TD Cowen restated a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, January 12th. Wall Street Zen upgraded Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Citizens Jmp boosted their target price on Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a research note on Friday, December 19th. Finally, Morgan Stanley raised their price target on Mirum Pharmaceuticals from $81.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Mirum Pharmaceuticals Trading Down 1.8%

Shares of MIRM stock opened at $94.29 on Monday. The business has a 50-day moving average price of $77.33 and a two-hundred day moving average price of $70.90. Mirum Pharmaceuticals has a 12-month low of $36.88 and a 12-month high of $96.84. 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 firm has a market cap of $4.85 billion, a P/E ratio of -109.64 and a beta of 0.48.

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

Insider Activity

In other news, COO Peter Radovich sold 2,382 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $93.33, for a total value of $222,312.06. Following the completion of the transaction, the chief operating officer owned 20,679 shares of the company’s stock, valued at approximately $1,929,971.07. This represents a 10.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Bjerkholt sold 1,421 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $93.33, for a total transaction of $132,621.93. Following the sale, the chief financial officer directly owned 42,127 shares in the company, valued at $3,931,712.91. The trade was a 3.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 20,560 shares of company stock worth $1,897,717. 22.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

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