Morgan Stanley Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target lifted by stock analysts at Morgan Stanley from $95.00 to $123.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 19.75% from the stock’s current price.

Several other research firms have also issued reports on MIRM. Leerink Partners set a $100.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, January 22nd. Stifel Nicolaus boosted their price objective on shares of Mirum Pharmaceuticals from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday, December 8th. Finally, Citizens Jmp raised their price objective on shares of Mirum Pharmaceuticals from $95.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.25.

Mirum Pharmaceuticals Stock Performance

MIRM stock traded down $0.21 during mid-day trading on Friday, reaching $102.71. The company had a trading volume of 222,060 shares, compared to its average volume of 836,007. Mirum Pharmaceuticals has a one year low of $36.88 and a one year high of $103.81. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $5.28 billion, a P/E ratio of -119.32 and a beta of 0.48. The stock’s 50-day simple moving average is $79.65 and its two-hundred day simple moving average is $71.96.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.15. The business had revenue of $133.01 million for the quarter, compared to analyst estimates of $130.11 million. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. Mirum Pharmaceuticals’s revenue was up 47.1% compared to the same quarter last year. During the same period last year, the business posted ($0.30) EPS. Research analysts anticipate that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insider Activity

In other news, SVP Jolanda Howe sold 842 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $96.19, for a total transaction of $80,991.98. Following the completion of the transaction, the senior vice president owned 3,700 shares of the company’s stock, valued at approximately $355,903. The trade was a 18.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 6,831 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $96.19, for a total value of $657,073.89. Following the sale, the chief executive officer owned 169,402 shares of the company’s stock, valued at $16,294,778.38. This trade represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,429 shares of company stock valued at $3,039,396 over the last quarter. 14.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several large investors have recently bought and sold shares of the company. MCF Advisors LLC boosted its stake in shares of Mirum Pharmaceuticals by 76.4% during the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares during the period. Quantbot Technologies LP acquired a new position in shares of Mirum Pharmaceuticals during the third quarter valued at about $33,000. Comerica Bank boosted its position in Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the last quarter. Quarry LP bought a new stake in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $41,000. Finally, CWM LLC increased its stake in Mirum Pharmaceuticals by 30.8% in the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after acquiring an additional 161 shares during the last quarter.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.