Mirum Pharmaceuticals (NASDAQ:MIRM) Upgraded at Wolfe Research

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by investment analysts at Wolfe Research to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also weighed in on the company. Raymond James Financial reissued a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Royal Bank Of Canada raised their target price on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Citizens Jmp restated a “market outperform” rating and set a $132.00 target price on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. Wall Street Zen cut Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and an average target price of $137.08.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $95.65 on Tuesday. Mirum Pharmaceuticals has a 1-year low of $42.89 and a 1-year high of $114.99. The firm has a market capitalization of $5.83 billion, a PE ratio of -7.03 and a beta of 0.52. The business’s 50 day moving average is $95.71 and its 200-day moving average is $87.97. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. During the same period in the previous year, the business posted ($0.30) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 43.3% compared to the same quarter last year. Sell-side analysts predict that Mirum Pharmaceuticals will post -2.24 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, insider Joanne Quan sold 7,287 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the sale, the insider owned 18,864 shares in the company, valued at approximately $1,735,110.72. This represents a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Peetz sold 40,985 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $3,769,800.30. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at $17,872,541.82. The trade was a 17.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 76,806 shares of company stock valued at $7,064,616 in the last ninety days. Insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Emerald Advisers LLC raised its stake in Mirum Pharmaceuticals by 20.9% in the third quarter. Emerald Advisers LLC now owns 369,600 shares of the company’s stock valued at $27,095,000 after buying an additional 63,834 shares during the period. SG Americas Securities LLC bought a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $1,478,000. Candriam S.C.A. raised its stake in Mirum Pharmaceuticals by 8.0% in the third quarter. Candriam S.C.A. now owns 403,026 shares of the company’s stock valued at $29,546,000 after buying an additional 30,021 shares during the period. TimesSquare Capital Management LLC bought a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $22,041,000. Finally, TD Asset Management Inc bought a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $1,129,000.

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.