Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives $58.20 Consensus Target Price from Analysts

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has been given a consensus recommendation of “Buy” by the eleven brokerages that are covering the company, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $58.20.

A number of equities research analysts have recently commented on the stock. HC Wainwright raised their price objective on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Robert W. Baird increased their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 7,489 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $320,678.98. Following the transaction, the chief executive officer now directly owns 119,359 shares of the company’s stock, valued at $5,110,952.38. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jolanda Howe sold 57,606 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.35, for a total value of $2,554,826.10. Following the completion of the sale, the senior vice president now owns 4,841 shares of the company’s stock, valued at $214,698.35. This trade represents a 92.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 133,679 shares of company stock worth $6,007,081. Corporate insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MIRM. Frazier Life Sciences Management L.P. increased its position in Mirum Pharmaceuticals by 1.2% during the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock worth $256,245,000 after purchasing an additional 75,000 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Mirum Pharmaceuticals by 2.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company’s stock valued at $189,481,000 after acquiring an additional 101,358 shares during the last quarter. State Street Corp grew its position in Mirum Pharmaceuticals by 19.9% in the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after acquiring an additional 297,511 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Mirum Pharmaceuticals by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company’s stock worth $58,831,000 after purchasing an additional 138,623 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Mirum Pharmaceuticals by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock worth $39,016,000 after purchasing an additional 7,147 shares during the last quarter.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM opened at $45.05 on Tuesday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -22.30 and a beta of 1.04. Mirum Pharmaceuticals has a 12 month low of $23.14 and a 12 month high of $54.23. The company has a 50 day simple moving average of $47.97 and a two-hundred day simple moving average of $43.91. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33.

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

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.