Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $155.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by investment analysts at Royal Bank Of Canada from $135.00 to $155.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 96.13% from the stock’s previous close.

MIRM has been the topic of several other reports. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. TD Cowen reduced their target price on Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. HC Wainwright raised their price target on Mirum Pharmaceuticals from $140.00 to $195.00 and gave the company a “buy” rating in a report on Monday, September 28th. Finally, Morgan Stanley set a $144.00 price objective on Mirum Pharmaceuticals in a research report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.81.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM traded down $1.61 on Thursday, hitting $79.03. The stock had a trading volume of 79,901 shares, compared to its average volume of 849,928. The firm’s 50 day moving average price is $96.10 and its 200-day moving average price is $101.04. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. Mirum Pharmaceuticals has a twelve month low of $63.23 and a twelve month high of $130.00. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -5.44 and a beta of 0.61.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. During the same quarter last year, the business earned ($0.12) EPS. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, equities research analysts predict that Mirum Pharmaceuticals will post -1.31 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the transaction, the chief executive officer owned 194,440 shares of the company’s stock, valued at $19,187,339.20. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 658 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $65,800.00. Following the completion of the transaction, the senior vice president directly owned 616 shares in the company, valued at approximately $61,600. This trade represents a 51.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 98,499 shares of company stock valued at $9,797,834 over the last three months. 8.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $513,945,000. Emerald Advisers LLC boosted its stake in Mirum Pharmaceuticals by 8.2% during the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company’s stock worth $36,699,000 after acquiring an additional 30,129 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter worth approximately $12,956,000. Lisanti Capital Growth LLC acquired a new position in Mirum Pharmaceuticals during the second quarter valued at approximately $7,410,000. Finally, Jupiter Topco LLC bought a new stake in Mirum Pharmaceuticals in the second quarter valued at approximately $691,672,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare diseases of the liver and gastrointestinal system. The company’s work centers on conditions involving impaired bile acid transport and cholestasis, which can cause serious liver damage and debilitating symptoms such as itching.

Mirum’s primary commercial product is Livmarli (maralixibat), an oral ileal bile acid transporter inhibitor. In the United States, Livmarli is approved to treat cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible pediatric patients.