Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives $57.10 Consensus Target Price from Brokerages

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has received a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $57.10.

Several research firms recently weighed in on MIRM. Robert W. Baird boosted their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Citigroup boosted their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the transaction, the senior vice president now directly owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter Radovich sold 1,998 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $85,554.36. Following the completion of the sale, the chief operating officer now owns 27,015 shares in the company, valued at $1,156,782.30. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,737 shares of company stock valued at $556,098 in the last 90 days. Insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC increased its stake in shares of Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after purchasing an additional 1,127 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after acquiring an additional 513 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Mirum Pharmaceuticals by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after purchasing an additional 318 shares during the period. ProShare Advisors LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $213,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Mirum Pharmaceuticals in the third quarter worth $215,000.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $41.32 on Thursday. The firm has a 50-day moving average of $42.95 and a two-hundred day moving average of $40.72. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $48.89. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -20.46 and a beta of 0.98. 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 (NASDAQ:MIRM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $90.38 million during the quarter, compared to analysts’ expectations of $81.99 million. During the same period in the prior year, the company posted ($0.57) earnings per share. Mirum Pharmaceuticals’s revenue for the quarter was up 89.4% compared to the same quarter last year. As a group, analysts expect that Mirum Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

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.