Mirum Pharmaceuticals (NASDAQ:MIRM) Upgraded by Wolfe Research to “Strong-Buy” Rating

Wolfe Research upgraded shares of Mirum Pharmaceuticals (NASDAQ:MIRM) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other brokerages also recently issued reports on MIRM. Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Leerink Partners decreased their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. HC Wainwright set a $185.00 target price on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Weiss Ratings raised Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, TD Cowen lifted their target price on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $137.08.

Mirum Pharmaceuticals Trading Up 0.2%

Shares of NASDAQ:MIRM opened at $95.65 on Tuesday. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of -7.03 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The stock’s 50-day simple moving average is $95.71 and its two-hundred day simple moving average is $87.97. Mirum Pharmaceuticals has a 52-week low of $42.89 and a 52-week high of $114.99.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The company had revenue of $159.88 million for the quarter, compared to analysts’ expectations of $148.21 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. The firm’s quarterly revenue was up 43.3% on a year-over-year basis. Analysts expect that Mirum Pharmaceuticals will post -2.24 EPS for the current year.

Insider Activity

In other news, COO Peter Radovich sold 16,515 shares of the business’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 transaction of $1,519,049.70. Following the transaction, the chief operating officer owned 40,272 shares of the company’s stock, valued at approximately $3,704,218.56. The trade was a 29.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jolanda Howe sold 4,732 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $435,249.36. Following the transaction, the senior vice president directly owned 8,429 shares in the company, valued at approximately $775,299.42. This represents a 35.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 76,806 shares of company stock worth $7,064,616. Company insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock worth $641,764,000 after purchasing an additional 880,505 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Mirum Pharmaceuticals by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after purchasing an additional 50,720 shares during the last quarter. State Street Corp lifted its stake in shares of Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after purchasing an additional 797,088 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Mirum Pharmaceuticals by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock worth $112,196,000 after purchasing an additional 137,087 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Mirum Pharmaceuticals by 56.6% during the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company’s stock worth $97,776,000 after purchasing an additional 447,141 shares during 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.