Analysts Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Price Target at $65.50

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have been given a consensus rating of “Buy” by the eight research firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $65.50.

Several research analysts recently commented on MIRM shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Mirum Pharmaceuticals in a report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $73.00 price target on shares of Mirum Pharmaceuticals in a report on Monday, May 19th. Evercore ISI reissued an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Friday, July 11th. JMP Securities raised their price target on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a “market outperform” rating in a report on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 6th.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 564 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total value of $27,213.00. Following the transaction, the senior vice president owned 2,903 shares in the company, valued at approximately $140,069.75. The trade was a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.36% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds have recently modified their holdings of the company. CWM LLC increased its position in shares of Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company’s stock valued at $27,000 after acquiring an additional 428 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $35,000. Comerica Bank increased its position in shares of 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 acquiring an additional 278 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $42,000. Finally, Quarry LP purchased a new position in shares of Mirum Pharmaceuticals in the first quarter valued at about $56,000.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $51.12 on Monday. The company has a quick ratio of 3.04, a current ratio of 3.22 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -31.75 and a beta of 0.97. The stock has a fifty day simple moving average of $49.40 and a 200 day simple moving average of $46.77. Mirum Pharmaceuticals has a twelve month low of $36.20 and a twelve month high of $54.78.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative net margin of 20.39% and a negative return on equity of 33.63%. The company had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. During the same quarter in the prior year, the business posted ($0.54) EPS. The firm’s revenue was up 61.2% compared to the same quarter last year. Sell-side analysts expect that Mirum Pharmaceuticals will post -1.43 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.