HC Wainwright Increases Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $72.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective upped by investment analysts at HC Wainwright from $66.00 to $72.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 51.36% from the stock’s previous close.

MIRM has been the topic of a number of other research reports. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup increased their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $58.20.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $47.57 on Friday. Mirum Pharmaceuticals has a 1-year low of $23.14 and a 1-year high of $54.23. The stock’s 50-day moving average is $46.96 and its 200 day moving average is $43.39. The company has a market cap of $2.33 billion, a P/E ratio of -23.55 and a beta of 0.96. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $99.41 million for the quarter, compared to the consensus estimate of $96.64 million. Research analysts predict that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 7,489 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value 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 $5,110,952.38. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joanne Quan sold 6,969 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $45.86, for a total value of $319,598.34. Following the transaction, the insider now owns 5,649 shares of the company’s stock, valued at approximately $259,063.14. This represents a 55.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,915 shares of company stock worth $1,897,920 over the last three months. 22.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MIRM. Jones Financial Companies Lllp raised its position in Mirum Pharmaceuticals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock valued at $30,000 after acquiring an additional 357 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Mirum Pharmaceuticals during the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. purchased a new position in Mirum Pharmaceuticals during the fourth quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after purchasing an additional 318 shares during the period. Finally, R Squared Ltd acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $69,000.

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.