Brokerages Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Target Price at $143.40

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $143.40.

Several research analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Mirum Pharmaceuticals from $142.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Morgan Stanley increased their target price on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Weiss Ratings lowered Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th.

Mirum Pharmaceuticals Stock Up 1.3%

MIRM stock opened at $118.86 on Monday. The firm has a 50-day moving average of $107.97 and a two-hundred day moving average of $99.09. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -8.73 and a beta of 0.48. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 12 month low of $50.25 and a 12 month high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million for the quarter, compared to analysts’ expectations of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business’s revenue for the quarter was up 43.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) earnings per share. As a group, analysts forecast that Mirum Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher Peetz sold 20,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $122.27, for a total transaction of $2,445,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at approximately $23,758,161.43. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 2,721 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $120.00, for a total transaction of $326,520.00. Following the sale, the senior vice president owned 3,114 shares in the company, valued at $373,680. The trade was a 46.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 65,315 shares of company stock worth $6,991,928 in the last quarter. 8.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in MIRM. Contravisory Investment Management Inc. lifted its stake in shares of Mirum Pharmaceuticals by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock valued at $539,000 after purchasing an additional 103 shares during the period. Faithward Advisors LLC increased its holdings in Mirum Pharmaceuticals by 0.5% in the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock valued at $2,537,000 after purchasing an additional 126 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Mirum Pharmaceuticals by 6.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock valued at $253,000 after buying an additional 200 shares during the period. Comerica Bank lifted its stake in Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after buying an additional 278 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Mirum Pharmaceuticals by 46.5% during the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock worth $56,000 after buying an additional 351 shares during the last quarter.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.