Wall Street Zen Upgrades Mirum Pharmaceuticals (NASDAQ:MIRM) to “Strong-Buy”

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

Other equities analysts have also recently issued reports about the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. HC Wainwright lifted their price objective on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, August 11th. JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Finally, Evercore ISI lifted their price target on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $74.13.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ:MIRM opened at $67.93 on Friday. Mirum Pharmaceuticals has a 52 week low of $36.86 and a 52 week high of $69.00. The stock has a market capitalization of $3.41 billion, a P/E ratio of -56.14 and a beta of 0.94. The firm has a fifty day simple moving average of $52.89 and a two-hundred day simple moving average of $47.79. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The business had revenue of $127.79 million during the quarter, compared to analysts’ expectations of $107.91 million. During the same period last year, the company posted ($0.52) EPS. The business’s revenue was up 64.1% on a year-over-year basis. On average, analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the sale, the chief executive officer directly owned 138,641 shares of the company’s stock, valued at $8,595,742. The trade was a 22.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jolanda Howe sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the sale, the senior vice president directly owned 2,426 shares of the company’s stock, valued at approximately $140,708. This trade represents a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,041 shares of company stock valued at $5,320,624. 14.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in MIRM. CWM LLC boosted its position in Mirum Pharmaceuticals by 259.4% in the 1st quarter. CWM LLC now owns 593 shares of the company’s stock valued at $27,000 after buying an additional 428 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Mirum Pharmaceuticals in the 4th quarter valued at about $35,000. Comerica Bank boosted its position in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after buying an additional 278 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Mirum Pharmaceuticals in the 4th quarter valued at about $42,000. Finally, Quarry LP purchased a new stake in Mirum Pharmaceuticals in the 1st quarter valued at about $56,000.

About Mirum Pharmaceuticals

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.