Leerink Partners Boosts Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $49.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target hoisted by Leerink Partners from $47.00 to $49.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also commented on MIRM. Robert W. Baird increased their price objective on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research note on Friday, October 11th. Evercore ISI increased their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald increased their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $56.82.

Mirum Pharmaceuticals Stock Up 0.4 %

Mirum Pharmaceuticals stock opened at $39.46 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -10.64 and a beta of 1.14. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $45.23. The stock’s fifty day moving average is $40.62 and its two-hundred day moving average is $33.83.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The firm had revenue of $77.90 million during the quarter, compared to analyst estimates of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 40.34% and a negative return on equity of 43.47%. The firm’s revenue for the quarter was up 107.7% on a year-over-year basis. During the same period last year, the company posted ($0.92) EPS. Analysts predict that Mirum Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of Mirum Pharmaceuticals by 34.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after purchasing an additional 704,659 shares during the period. Candriam S.C.A. acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $17,384,000. Clearbridge Investments LLC lifted its stake in shares of Mirum Pharmaceuticals by 165.5% in the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after purchasing an additional 436,349 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after purchasing an additional 432,824 shares in the last quarter. Finally, Affinity Asset Advisors LLC lifted its stake in shares of Mirum Pharmaceuticals by 220.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company’s stock valued at $4,019,000 after purchasing an additional 110,000 shares in the last quarter.

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.