Mirum Pharmaceuticals (NASDAQ:MIRM) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a report released on Monday, Marketbeat Ratings reports. The firm currently has a $73.00 price target on the stock.

MIRM has been the subject of a number of other research reports. JMP Securities increased their price objective 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. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Raymond James restated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a report on Tuesday, May 13th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $60.73.

Mirum Pharmaceuticals Stock Down 0.3%

MIRM stock opened at $44.89 on Monday. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -22.22 and a beta of 0.95. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. Mirum Pharmaceuticals has a 12 month low of $23.83 and a 12 month high of $54.23. The firm has a 50-day moving average of $42.96 and a two-hundred day moving average of $44.54.

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

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 27,279 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.21, for a total transaction of $1,206,004.59. Following the completion of the transaction, the chief executive officer now owns 138,641 shares of the company’s stock, valued at approximately $6,129,318.61. This trade represents a 16.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jolanda Howe sold 57,606 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the transaction, the senior vice president now directly owns 4,841 shares of the company’s stock, valued at $214,698.35. The trade was a 92.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,764 shares of company stock valued at $4,109,161. Company insiders own 14.36% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Mirum Pharmaceuticals by 102.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,518 shares of the company’s stock worth $6,736,000 after purchasing an additional 75,630 shares during the period. Woodline Partners LP boosted its position in Mirum Pharmaceuticals by 40.0% in the 1st quarter. Woodline Partners LP now owns 566,271 shares of the company’s stock valued at $25,511,000 after buying an additional 161,867 shares during the period. Empowered Funds LLC boosted its position in Mirum Pharmaceuticals by 15.4% in the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock valued at $1,729,000 after buying an additional 5,120 shares during the period. Caxton Associates LLP purchased a new position in Mirum Pharmaceuticals in the 1st quarter valued at approximately $217,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mirum Pharmaceuticals by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock valued at $1,176,000 after buying an additional 1,720 shares during the period.

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.