Analysts Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) PT at $57.73

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has received an average rating of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $57.10.

MIRM has been the topic of several research reports. Leerink Partners lifted their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Citigroup raised their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird upped their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares in the company, valued at $114,264.60. This represents a 50.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC purchased a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $28,913,000. Candriam S.C.A. bought a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter worth $17,384,000. Loomis Sayles & Co. L P purchased a new position in Mirum Pharmaceuticals in the third quarter worth $19,473,000. Clearbridge Investments LLC increased its stake in Mirum Pharmaceuticals by 165.5% in the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after acquiring an additional 436,349 shares during the last quarter. Finally, State Street Corp raised its position in Mirum Pharmaceuticals by 19.9% during the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after purchasing an additional 297,511 shares in the last quarter.

Mirum Pharmaceuticals Stock Performance

MIRM stock opened at $41.51 on Friday. The business has a 50 day moving average of $42.18 and a 200-day moving average of $39.33. The firm has a market cap of $1.99 billion, a PE ratio of -20.55 and a beta of 1.20. Mirum Pharmaceuticals has a 12-month low of $23.14 and a 12-month high of $48.89. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33.

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