Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $55.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target increased by Robert W. Baird from $50.00 to $55.00 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on MIRM. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Citigroup lifted their target price on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $58.20.

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock opened at $47.57 on Thursday. The firm has a market capitalization of $2.33 billion, a P/E ratio of -23.55 and a beta of 0.96. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $54.23. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The firm’s 50 day moving average is $46.96 and its two-hundred day moving average is $43.39.

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

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 750 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $32,115.00. Following the transaction, the senior vice president now directly owns 2,926 shares in the company, valued at $125,291.32. This trade represents a 20.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joanne Quan sold 6,969 shares of Mirum Pharmaceuticals stock in a transaction on Friday, January 17th. The shares were sold at an average price of $45.86, for a total transaction of $319,598.34. Following the completion of the transaction, the insider now owns 5,649 shares in the company, valued at approximately $259,063.14. This trade represents a 55.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,915 shares of company stock worth $1,897,920 in the last three months. Insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Mirum Pharmaceuticals by 19.9% during the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after purchasing an additional 297,511 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Mirum Pharmaceuticals by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock worth $12,798,000 after purchasing an additional 17,149 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mirum Pharmaceuticals by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock worth $36,519,000 after purchasing an additional 29,017 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Mirum Pharmaceuticals by 791.7% during the 3rd quarter. GSA Capital Partners LLP now owns 57,985 shares of the company’s stock worth $2,261,000 after purchasing an additional 51,482 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Mirum Pharmaceuticals by 25.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company’s stock worth $6,021,000 after buying an additional 29,545 shares during the last quarter.

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.