Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives $56.82 Consensus Price Target from Analysts

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has been assigned a consensus rating of “Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $56.82.

A number of research firms have commented on MIRM. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $39.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Cantor Fitzgerald upped their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Evercore ISI raised their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Leerink Partners upped their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Friday, October 11th.

Mirum Pharmaceuticals Stock Up 5.0 %

Shares of MIRM stock opened at $40.40 on Friday. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week high of $45.23. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -17.64 and a beta of 1.14. The firm’s 50-day moving average is $40.15 and its 200-day moving average is $34.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative net margin of 40.34% and a negative return on equity of 43.47%. The business had revenue of $77.90 million during the quarter, compared to the consensus estimate of $75.03 million. During the same quarter in the prior year, the company earned ($0.92) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 107.7% on a year-over-year basis. Sell-side analysts predict that Mirum Pharmaceuticals will post -1.84 EPS for the current year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC boosted its position in shares of Mirum Pharmaceuticals by 7,513.3% during the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after acquiring an additional 1,127 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Mirum Pharmaceuticals by 60.8% in the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Mirum Pharmaceuticals by 22.6% in the 3rd 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 last quarter. ProShare Advisors LLC acquired a new stake in Mirum Pharmaceuticals in the second quarter valued at about $213,000. Finally, Creative Planning bought a new position in Mirum Pharmaceuticals in the third quarter valued at about $249,000.

About Mirum Pharmaceuticals

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.