Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $145.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective boosted by TD Cowen from $140.00 to $145.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on MIRM. HC Wainwright increased their price objective on Mirum Pharmaceuticals from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. raised their price objective on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada boosted their target price on shares of Mirum Pharmaceuticals from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Citigroup upped their target price on shares of Mirum Pharmaceuticals from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, Morgan Stanley upped their target price on shares of Mirum Pharmaceuticals from $137.00 to $152.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.19.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $80.39 on Wednesday. The stock’s 50 day moving average price is $91.43 and its two-hundred day moving average price is $100.29. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 12-month low of $63.23 and a 12-month high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The business had revenue of $176.24 million during the quarter, compared to the consensus estimate of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share. Sell-side analysts predict that Mirum Pharmaceuticals will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the transaction, the chief financial officer owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $65,800.00. Following the completion of the transaction, the senior vice president directly owned 616 shares of the company’s stock, valued at approximately $61,600. This trade represents a 51.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,499 shares of company stock valued at $9,797,834 over the last three months. 8.32% of the stock is owned by corporate insiders.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC increased its position in shares of Mirum Pharmaceuticals by 838.3% during the third quarter. Sterling Capital Management LLC now owns 1,567 shares of the company’s stock valued at $134,000 after purchasing an additional 1,400 shares during the period. Reyes Financial Architecture Inc. acquired a new position in shares of Mirum Pharmaceuticals in the third quarter valued at $85,000. Secure Asset Management LLC bought a new position in Mirum Pharmaceuticals in the third quarter worth $4,466,000. Contravisory Investment Management Inc. lifted its position in Mirum Pharmaceuticals by 10.2% in the third quarter. Contravisory Investment Management Inc. now owns 5,074 shares of the company’s stock worth $434,000 after purchasing an additional 470 shares during the period. Finally, Juncture Wealth Strategies LLC lifted its position in Mirum Pharmaceuticals by 10.7% in the third quarter. Juncture Wealth Strategies LLC now owns 5,330 shares of the company’s stock worth $456,000 after purchasing an additional 515 shares during the period.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.