Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 6.6% on Analyst Upgrade

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares rose 6.6% on Thursday after Citigroup raised their price target on the stock from $65.00 to $68.00. Citigroup currently has a buy rating on the stock. Mirum Pharmaceuticals traded as high as $47.00 and last traded at $46.82. Approximately 207,797 shares changed hands during trading, a decline of 63% from the average daily volume of 556,627 shares. The stock had previously closed at $43.92.

Several other research analysts have also issued reports on MIRM. HC Wainwright reiterated a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research note on Friday, October 11th. Cantor Fitzgerald increased their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Evercore ISI increased their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Leerink Partners increased their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, 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 note on Wednesday. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $57.73.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in MIRM. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Mirum Pharmaceuticals by 7.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,641 shares of the company’s stock worth $448,000 after buying an additional 1,246 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Mirum Pharmaceuticals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock valued at $439,000 after purchasing an additional 1,825 shares in the last quarter. Affinity Asset Advisors LLC lifted its holdings in Mirum Pharmaceuticals by 220.0% during the first quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company’s stock valued at $4,019,000 after purchasing an additional 110,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after purchasing an additional 432,824 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its holdings in Mirum Pharmaceuticals by 64.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after purchasing an additional 63,871 shares in the last quarter.

Mirum Pharmaceuticals Price Performance

The company has a quick ratio of 3.09, a current ratio of 3.28 and a debt-to-equity ratio of 1.34. The firm has a market cap of $2.22 billion, a PE ratio of -21.74 and a beta of 1.16. The firm’s fifty day simple moving average is $39.96 and its two-hundred day simple moving average is $35.79.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 40.98%. The business had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. The company’s revenue for the quarter was up 89.4% on a year-over-year basis. As a group, research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.84 EPS for the current year.

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.