Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 6.6% on Analyst Upgrade

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shot up 6.6% on Thursday after Citigroup raised their price target on the stock from $65.00 to $68.00. Citigroup currently has a buy rating on the stock. Mirum Pharmaceuticals traded as high as $47.00 and last traded at $46.82. 207,797 shares were traded during mid-day trading, a decline of 63% from the average session volume of 556,627 shares. The stock had previously closed at $43.92.

A number of other equities research analysts have also commented on the company. Leerink Partners increased their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI increased their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Robert W. Baird increased their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday. 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 report on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $57.73.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in Mirum Pharmaceuticals by 34.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after buying an additional 704,659 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after buying an additional 432,824 shares during the period. Clearbridge Investments LLC raised its stake in Mirum Pharmaceuticals by 165.5% during the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after buying an additional 436,349 shares during the period. William Blair Investment Management LLC raised its stake in Mirum Pharmaceuticals by 8.1% during the 2nd quarter. William Blair Investment Management LLC now owns 677,939 shares of the company’s stock worth $23,179,000 after buying an additional 50,667 shares during the period. Finally, Candriam S.C.A. acquired a new stake in Mirum Pharmaceuticals during the 2nd quarter worth $17,384,000.

Mirum Pharmaceuticals Price Performance

The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -23.55 and a beta of 1.16. The company has a current ratio of 3.28, a quick ratio of 3.09 and a debt-to-equity ratio of 1.34. The company has a 50 day moving average of $39.96 and a 200 day moving average of $35.79.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. The firm had revenue of $90.38 million during the quarter, compared to analysts’ expectations of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 40.98% and a negative net margin of 31.69%. The company’s revenue was up 89.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.57) EPS. Equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.84 EPS for the current fiscal year.

Mirum Pharmaceuticals Company Profile

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.