Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Given Average Recommendation of “Buy” by Brokerages

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have received an average rating of “Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $57.10.

A number of research firms have recently issued reports on MIRM. Robert W. Baird increased their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup increased their target price on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Finally, Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher Peetz sold 7,489 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $320,678.98. Following the completion of the transaction, the chief executive officer now directly owns 119,359 shares in the company, valued at approximately $5,110,952.38. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,737 shares of company stock worth $556,098 over the last three months. Corporate insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. lifted its position in shares of Mirum Pharmaceuticals by 1.2% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock worth $256,245,000 after purchasing an additional 75,000 shares during the last quarter. State Street Corp increased its position in Mirum Pharmaceuticals by 19.9% in the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after buying an additional 297,511 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Mirum Pharmaceuticals by 3.2% during the third quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock worth $36,519,000 after buying an additional 29,017 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $28,913,000. Finally, Clearbridge Investments LLC grew its stake in shares of Mirum Pharmaceuticals by 165.5% in the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after acquiring an additional 436,349 shares during the last quarter.

Mirum Pharmaceuticals Trading Up 6.5 %

Mirum Pharmaceuticals stock opened at $44.00 on Thursday. The company has a 50 day moving average price of $43.02 and a 200 day moving average price of $40.85. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $48.89. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -21.78 and a beta of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. The business had revenue of $90.38 million during the quarter, compared to analysts’ expectations of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. Mirum Pharmaceuticals’s revenue was up 89.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.57) earnings per share. Research analysts forecast that Mirum Pharmaceuticals will post -1.46 EPS for the current year.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.