Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Target Raised at Cantor Fitzgerald

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target hoisted by Cantor Fitzgerald from $155.00 to $160.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently issued reports on MIRM. HC Wainwright upped their price target on shares of Mirum Pharmaceuticals from $200.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings lowered shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 22nd. Evercore reissued an “outperform” rating and set a $146.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, October 13th. Robert W. Baird boosted their target price on shares of Mirum Pharmaceuticals from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $153.56.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $96.97 on Wednesday. The business’s 50 day moving average is $89.51 and its two-hundred day moving average is $98.44. Mirum Pharmaceuticals has a 52-week low of $63.23 and a 52-week high of $130.00. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of -6.27 and a beta of 0.75. 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 (NASDAQ:MIRM) last released its earnings results on Tuesday, November 3rd. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 65.71%. The business had revenue of $185.72 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter last year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 39.6% compared to the same quarter last year. Analysts forecast that Mirum Pharmaceuticals will post -1.32 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

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 completion of the sale, the chief financial officer directly owned 36,355 shares in the company, valued at approximately $3,631,864.50. The trade was a 14.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business’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 value of $2,960,400.00. Following the completion of the sale, the chief executive officer owned 194,440 shares of the company’s stock, valued at $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 116,659 shares of company stock worth $11,404,100. 8.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in MIRM. ABS Investment Management LLC bought a new stake in Mirum Pharmaceuticals during the second quarter valued at $245,847,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Mirum Pharmaceuticals during the second quarter worth $27,000. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $44,000. State of Wyoming bought a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $52,000. Finally, Summit Securities Group LLC acquired a new stake in Mirum Pharmaceuticals during the first quarter worth about $42,000.

Mirum Pharmaceuticals News Roundup

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Several firms raised their price targets: Citizens JMP to $167 from $144, HC Wainwright to $202 from $200, and Cantor Fitzgerald to $160 from $155. RBC reaffirmed its “outperform” rating and $155 target. The favorable analyst outlook is a likely driver of the stock’s strength. Citizens JMP recommendations HC Wainwright recommendations Cantor Fitzgerald recommendations RBC rating report
• Positive Sentiment: Third-quarter revenue rose 39.6% year over year to $185.72 million, exceeding analyst expectations of about $178 million. Mirum Q3 results and business update
• Positive Sentiment: Mirum also announced new data across its rare liver disease portfolio for presentation at AASLD’s The Liver Meeting, a potential source of investor interest in its pipeline. AASLD portfolio data announcement
• Negative Sentiment: The company reported a Q3 loss of $0.87 per share, wider than the roughly $0.49–$0.53 loss analysts expected, and below the $0.05 per-share profit a year earlier. This earnings miss tempers the positive revenue and analyst news. Q3 earnings report

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.