Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $64.00 at Citigroup

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price raised by Citigroup from $38.00 to $64.00 in a research report report published on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on MIRM. JMP Securities boosted their price target on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a market outperform rating in a research note on Tuesday. HC Wainwright boosted their price target on Mirum Pharmaceuticals from $58.00 to $66.00 and gave the stock a buy rating in a report on Monday. SVB Leerink lowered their price target on Mirum Pharmaceuticals from $44.00 to $43.00 and set an outperform rating on the stock in a report on Monday, March 18th. Stifel Nicolaus reaffirmed a buy rating and set a $48.00 price objective on shares of Mirum Pharmaceuticals in a report on Monday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $40.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $53.64.

Mirum Pharmaceuticals Stock Down 11.4 %

Shares of Mirum Pharmaceuticals stock opened at $29.25 on Tuesday. The company’s 50 day moving average price is $25.32 and its 200-day moving average price is $27.23. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week 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 company has a debt-to-equity ratio of 1.31, a quick ratio of 3.47 and a current ratio of 3.68.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.14). The firm had revenue of $69.22 million for the quarter, compared to analysts’ expectations of $69.71 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. Equities research analysts forecast that Mirum Pharmaceuticals will post -1.39 EPS for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total value of $128,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Saira Ramasastry sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Peter Radovich sold 4,303 shares of the firm’s stock in a transaction 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. Insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. AJOVista LLC bought a new stake in Mirum Pharmaceuticals during the fourth quarter valued at about $40,000. Wetzel Investment Advisors Inc. bought a new stake in Mirum Pharmaceuticals during the fourth quarter valued at about $41,000. StepStone Group LP bought a new stake in Mirum Pharmaceuticals during the fourth quarter valued at about $135,000. China Universal Asset Management Co. Ltd. boosted its position in Mirum Pharmaceuticals by 447.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,394 shares of the company’s stock valued at $159,000 after purchasing an additional 4,408 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Mirum Pharmaceuticals during the fourth quarter valued at about $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.