Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $76.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target increased by analysts at JMP Securities from $74.00 to $76.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 71.67% from the stock’s previous close.

MIRM has been the topic of a number of other reports. HC Wainwright boosted their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $59.00.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $44.27 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The stock’s 50 day simple moving average is $42.82 and its 200-day simple moving average is $44.26. The company has a market cap of $2.19 billion, a PE ratio of -21.92 and a beta of 0.95. Mirum Pharmaceuticals has a 1-year low of $23.83 and a 1-year high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. During the same quarter last year, the firm posted ($0.54) EPS. The firm’s revenue for the quarter was up 61.2% on a year-over-year basis. As a group, equities research analysts anticipate that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.35, for a total value of $2,554,826.10. Following the sale, the senior vice president now owns 4,841 shares in the company, valued at $214,698.35. The trade was a 92.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick J. Heron purchased 1,335 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $45.57 per share, with a total value of $60,835.95. Following the completion of the acquisition, the director now owns 163,643 shares in the company, valued at approximately $7,457,211.51. This trade represents a 0.82 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 92,764 shares of company stock worth $4,109,161. Insiders own 14.36% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG increased its holdings in Mirum Pharmaceuticals by 42.2% in the 1st quarter. Deutsche Bank AG now owns 240,744 shares of the company’s stock valued at $10,846,000 after purchasing an additional 71,421 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Mirum Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company’s stock valued at $114,430,000 after buying an additional 115,327 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the 1st quarter valued at $1,059,000. Federated Hermes Inc. lifted its stake in Mirum Pharmaceuticals by 9,440.4% during the 1st quarter. Federated Hermes Inc. now owns 347,366 shares of the company’s stock worth $15,649,000 after acquiring an additional 343,725 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Mirum Pharmaceuticals by 3.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,998 shares of the company’s stock valued at $495,000 after acquiring an additional 398 shares during the period.

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.