Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives $57.73 Consensus PT from Brokerages

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has earned a consensus rating of “Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $57.73.

MIRM has been the topic of several research analyst reports. Evercore ISI boosted their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald boosted their target price on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note 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 Wednesday, November 13th. Finally, Leerink Partners lifted their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th.

Mirum Pharmaceuticals Price Performance

Shares of Mirum Pharmaceuticals stock opened at $44.73 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The business’s 50 day simple moving average is $40.29 and its two-hundred day simple moving average is $36.60. The stock has a market capitalization of $2.15 billion, a P/E ratio of -22.14 and a beta of 1.16. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $48.89.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. During the same period in the previous year, the firm earned ($0.57) EPS. The business’s quarterly revenue was up 89.4% on a year-over-year basis. Analysts forecast that Mirum Pharmaceuticals will post -1.51 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 2,500 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was 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 owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after purchasing an additional 318 shares during the last quarter. Amalgamated Bank increased its position in Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares during the last quarter. Arizona State Retirement System increased its position in Mirum Pharmaceuticals by 10.6% during the second quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock valued at $315,000 after acquiring an additional 883 shares during the last quarter. Quest Partners LLC increased its position in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Mirum Pharmaceuticals by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock worth $439,000 after buying an additional 1,825 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.