Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $77.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target lifted by Raymond James from $73.00 to $77.00 in a report published on Tuesday,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

A number of other brokerages have also recently commented on MIRM. JMP Securities raised their price target on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. HC Wainwright lifted their target price on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Robert W. Baird raised their price target on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $60.64.

Mirum Pharmaceuticals Trading Up 2.0%

Shares of NASDAQ:MIRM opened at $45.28 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The stock’s 50-day moving average is $42.94 and its 200-day moving average is $44.39. Mirum Pharmaceuticals has a 52-week low of $23.83 and a 52-week high of $54.23. The company has a market cap of $2.24 billion, a P/E ratio of -22.42 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. The business had revenue of $111.59 million during the quarter, compared to analysts’ expectations of $98.47 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm’s revenue was up 61.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.54) earnings per share. Equities research analysts predict that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Patrick J. Heron purchased 1,335 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $45.57 per share, for a total transaction of $60,835.95. Following the completion of the acquisition, the director now directly owns 163,643 shares in the company, valued at approximately $7,457,211.51. This trade represents a 0.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 27,279 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.21, for a total value of $1,206,004.59. Following the completion of the sale, the chief executive officer now owns 138,641 shares in the company, valued at approximately $6,129,318.61. This trade represents a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,764 shares of company stock worth $4,109,161. Corporate insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its position in shares of Mirum Pharmaceuticals by 25.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company’s stock valued at $6,021,000 after acquiring an additional 29,545 shares during the last quarter. AlphaQuest LLC increased its position in Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company’s stock worth $76,000 after buying an additional 1,658 shares during the last quarter. Golden State Equity Partners increased its position in Mirum Pharmaceuticals by 1,390.8% during the fourth quarter. Golden State Equity Partners now owns 19,380 shares of the company’s stock worth $801,000 after buying an additional 18,080 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth approximately $277,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth approximately $413,000.

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.