Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $68.00 Price Target at JMP Securities

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective boosted by JMP Securities from $66.00 to $68.00 in a report released on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also recently commented on MIRM. Cantor Fitzgerald restated an overweight rating and issued a $40.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. Citigroup upped their price objective on shares of Mirum Pharmaceuticals from $37.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Stifel Nicolaus reissued a buy rating and set a $48.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday. HC Wainwright increased their price target on shares of Mirum Pharmaceuticals from $58.00 to $66.00 and gave the company a buy rating in a research report on Monday. Finally, Morgan Stanley increased their price target on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an overweight rating in a research report on Tuesday. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $53.64.

Mirum Pharmaceuticals Trading Down 11.4 %

MIRM stock opened at $29.25 on Tuesday. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $35.56. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -7.88 and a beta of 1.10. The firm’s fifty day simple moving average is $25.32 and its two-hundred day simple moving average is $27.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). The company had revenue of $69.22 million during the quarter, compared to the consensus estimate of $69.71 million. Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. As a group, analysts anticipate that Mirum Pharmaceuticals will post -1.39 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Peter Radovich sold 4,303 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Eric Bjerkholt acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average price of $24.80 per share, with a total value of $49,600.00. Following the purchase, the chief financial officer now directly owns 14,000 shares of the company’s stock, valued at $347,200. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Peter Radovich sold 4,303 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The disclosure for this sale can be found here. 22.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MIRM. AJOVista LLC purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at approximately $40,000. Wetzel Investment Advisors Inc. purchased a new position in Mirum Pharmaceuticals in the 4th quarter valued at $41,000. StepStone Group LP purchased a new position in Mirum Pharmaceuticals in the 4th quarter valued at $135,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Mirum Pharmaceuticals by 447.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,394 shares of the company’s stock worth $159,000 after acquiring an additional 4,408 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth $194,000.

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.