Mirum Pharmaceuticals (NASDAQ:MIRM – Free Report) had its price target increased by Royal Bank Of Canada from $135.00 to $155.00 in a research note published on Thursday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the stock.
Other equities research analysts have also recently issued reports about the company. HC Wainwright increased their target price on Mirum Pharmaceuticals from $140.00 to $195.00 and gave the company a “buy” rating in a report on Monday, September 28th. JPMorgan Chase & Co. lifted their price target on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Citizens Jmp reiterated a “market outperform” rating and issued a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. Robert W. Baird increased their price objective on Mirum Pharmaceuticals from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.81.
Check Out Our Latest Report on MIRM
Mirum Pharmaceuticals Price Performance
Mirum Pharmaceuticals (NASDAQ:MIRM – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The business had revenue of $176.24 million for the quarter, compared to analysts’ expectations of $166.33 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The business’s quarterly revenue was up 37.9% on a year-over-year basis. Research analysts anticipate that Mirum Pharmaceuticals will post -1.31 earnings per share for the current year.
Insider Activity
In other news, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. The trade was a 14.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the sale, the senior vice president owned 1,274 shares in the company, valued at $127,400. The trade was a 96.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 98,499 shares of company stock worth $9,797,834. Insiders own 8.32% of the company’s stock.
Institutional Investors Weigh In On Mirum Pharmaceuticals
Institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. grew its position in Mirum Pharmaceuticals by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock worth $539,000 after purchasing an additional 103 shares during the period. ABS Investment Management LLC purchased a new stake in Mirum Pharmaceuticals during the second quarter valued at approximately $245,847,000. Faithward Advisors LLC increased its stake in shares of Mirum Pharmaceuticals by 0.5% in the 1st quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock worth $2,537,000 after purchasing an additional 126 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Mirum Pharmaceuticals in the second quarter worth about $27,000. Finally, Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals in the second quarter worth about $44,000.
Mirum Pharmaceuticals Company Profile
Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare diseases of the liver and gastrointestinal system. The company’s work centers on conditions involving impaired bile acid transport and cholestasis, which can cause serious liver damage and debilitating symptoms such as itching.
Mirum’s primary commercial product is Livmarli (maralixibat), an oral ileal bile acid transporter inhibitor. In the United States, Livmarli is approved to treat cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible pediatric patients.
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