Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $145.00 Price Target at TD Cowen

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target boosted by TD Cowen from $140.00 to $145.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 71.83% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Citizens Jmp restated a “market outperform” rating and issued a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Robert W. Baird lifted their price target on Mirum Pharmaceuticals from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Finally, Stifel Nicolaus upped their price target on Mirum Pharmaceuticals from $136.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.19.

Mirum Pharmaceuticals Trading Down 0.8%

Shares of MIRM traded down $0.69 during trading hours on Wednesday, reaching $84.39. 119,647 shares of the company traded hands, compared to its average volume of 846,485. The company’s fifty day moving average price is $92.46 and its two-hundred day moving average price is $100.58. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -5.79 and a beta of 0.61. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 12 month low of $63.23 and a 12 month high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%. The company had revenue of $176.24 million during the quarter, compared to the consensus estimate of $166.33 million. During the same period in the previous year, the company earned ($0.12) earnings per share. Mirum Pharmaceuticals’s quarterly revenue was up 37.9% on a year-over-year basis. Equities research analysts predict that Mirum Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the completion of the transaction, the chief executive officer owned 194,440 shares of the company’s stock, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 658 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total transaction of $65,800.00. Following the transaction, the senior vice president owned 616 shares of the company’s stock, valued at $61,600. The trade was a 51.65% 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 98,499 shares of company stock valued at $9,797,834 over the last quarter. Corporate insiders own 8.32% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Mirum Pharmaceuticals during the 2nd quarter valued at approximately $513,945,000. Emerald Advisers LLC boosted its holdings in Mirum Pharmaceuticals by 8.2% in the first quarter. Emerald Advisers LLC now owns 397,263 shares of the company’s stock worth $36,699,000 after acquiring an additional 30,129 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in Mirum Pharmaceuticals in the second quarter worth $12,956,000. Lisanti Capital Growth LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter worth $7,410,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter worth $691,672,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.