Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $68.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target lifted by Citigroup from $65.00 to $68.00 in a report published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Robert W. Baird upped their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Evercore ISI raised their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Cantor Fitzgerald boosted their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Leerink Partners increased 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. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $57.73.

Mirum Pharmaceuticals Stock Down 3.8 %

Shares of MIRM opened at $44.50 on Wednesday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -22.03 and a beta of 1.16. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $48.89. The stock’s 50-day moving average price is $40.12 and its 200-day moving average price is $36.00. The company has a quick ratio of 3.09, a current ratio of 3.34 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. During the same quarter last year, the company earned ($0.57) EPS. The business’s revenue was up 89.4% on a year-over-year basis. On average, sell-side analysts predict that Mirum Pharmaceuticals will post -1.81 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,500 shares of the business’s 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 directly owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after acquiring an additional 432,824 shares during the period. Silvercrest Asset Management Group LLC raised its stake 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 worth $4,090,000 after purchasing an additional 63,871 shares during the period. Rice Hall James & Associates LLC boosted its holdings in Mirum Pharmaceuticals by 6.9% in the 2nd quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company’s stock valued at $7,854,000 after purchasing an additional 14,843 shares during the last quarter. Candriam S.C.A. purchased a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $17,384,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Mirum Pharmaceuticals by 64.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company’s stock valued at $3,582,000 after buying an additional 41,236 shares during the period.

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.