Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives Consensus Rating of “Buy” from Brokerages

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has earned an average recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $57.10.

Several analysts recently issued reports on the stock. Leerink Partners lifted their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. HC Wainwright reissued a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Citigroup lifted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird increased their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, CEO Christopher Peetz sold 9,102 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $48.22, for a total transaction of $438,898.44. Following the completion of the transaction, the chief executive officer now directly owns 115,920 shares of the company’s stock, valued at $5,589,662.40. This represents a 7.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Peter Radovich sold 2,627 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $126,673.94. Following the completion of the sale, the chief operating officer now directly owns 26,961 shares in the company, valued at $1,300,059.42. This trade represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,415 shares of company stock worth $2,015,670. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MIRM. Frazier Life Sciences Management L.P. lifted its holdings 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 valued at $256,245,000 after purchasing an additional 75,000 shares during the last quarter. State Street Corp raised its position in shares of Mirum Pharmaceuticals by 19.9% in the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after purchasing an additional 297,511 shares during the period. Geode Capital Management LLC lifted its stake in shares of Mirum Pharmaceuticals by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock valued at $36,519,000 after buying an additional 29,017 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Mirum Pharmaceuticals in the 3rd quarter worth approximately $28,913,000. Finally, Loomis Sayles & Co. L P bought a new stake in Mirum Pharmaceuticals during the 3rd quarter valued at $19,473,000.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $51.06 on Monday. The firm has a market cap of $2.45 billion, a PE ratio of -25.28 and a beta of 0.96. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week high of $53.49. The business’s 50 day moving average price is $44.80 and its two-hundred day moving average price is $42.33. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period in the prior year, the business earned ($0.57) EPS. The firm’s revenue for the quarter was up 89.4% on a year-over-year basis. On average, equities analysts anticipate that Mirum Pharmaceuticals will post -1.44 EPS 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.