Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $81.00 Price Target at JMP Securities

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price lifted by JMP Securities from $79.00 to $81.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 6th. Raymond James Financial boosted their price objective on shares of Mirum Pharmaceuticals from $77.00 to $82.00 and gave the stock a “strong-buy” rating in a report on Thursday. Evercore ISI restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, July 11th. Finally, HC Wainwright increased their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $67.63.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $59.82 on Thursday. The firm has a market cap of $2.96 billion, a P/E ratio of -49.44 and a beta of 0.94. Mirum Pharmaceuticals has a 52 week low of $36.86 and a 52 week high of $61.00. The firm’s fifty day moving average is $50.55 and its 200 day moving average is $47.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.04 and a current ratio of 3.22.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 25.43% and a negative net margin of 13.65%. The firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $107.91 million. During the same quarter in the previous year, the company posted ($0.52) earnings per share. The business’s revenue was up 64.1% on a year-over-year basis. Research analysts predict that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 564 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $48.25, for a total value of $27,213.00. Following the transaction, the senior vice president owned 2,903 shares of the company’s stock, valued at approximately $140,069.75. This trade represents a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 14.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC grew its holdings in Mirum Pharmaceuticals by 259.4% during the first quarter. CWM LLC now owns 593 shares of the company’s stock valued at $27,000 after purchasing an additional 428 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth $35,000. Comerica Bank raised its position in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at $42,000. Finally, Quarry LP bought a new position in Mirum Pharmaceuticals in the 1st quarter worth $56,000.

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.