Cantor Fitzgerald Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price boosted by stock analysts at Cantor Fitzgerald from $155.00 to $160.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price suggests a potential upside of 83.84% from the company’s previous close.

A number of other analysts have also commented on MIRM. UBS Group set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. TD Cowen boosted their price target on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Citigroup upped their price target on shares of Mirum Pharmaceuticals from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, Citizens Jmp restated a “market outperform” rating and set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. One equities research 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 stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.19.

Mirum Pharmaceuticals Stock Up 1.5%

NASDAQ:MIRM opened at $87.03 on Wednesday. The stock has a 50-day simple moving average of $89.53 and a 200 day simple moving average of $98.42. Mirum Pharmaceuticals has a 52-week low of $63.23 and a 52-week high of $130.00. The company has a market cap of $5.65 billion, a PE ratio of -5.98 and a beta of 0.75. 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 (NASDAQ:MIRM) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%. The firm had revenue of $185.72 million for the quarter, compared to analyst estimates of $178.07 million. During the same period last year, the company earned $0.05 EPS. The company’s revenue was up 39.6% compared to the same quarter last year. On average, sell-side analysts expect that Mirum Pharmaceuticals will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, SVP Jolanda Howe sold 658 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total transaction of $65,800.00. Following the transaction, the senior vice president directly owned 616 shares of the company’s stock, valued at approximately $61,600. This trade represents a 51.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the sale, the chief financial officer owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This trade represents a 14.17% 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. Over the last 90 days, insiders sold 96,659 shares of company stock valued at $9,604,100. 8.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MIRM. Contravisory Investment Management Inc. raised its position in shares of Mirum Pharmaceuticals by 2.3% in the second quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock valued at $539,000 after buying an additional 103 shares in the last quarter. ABS Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $245,847,000. Integrated Wealth Concepts LLC acquired a new stake in Mirum Pharmaceuticals during the second quarter worth approximately $27,000. Commonwealth Equity Services LLC grew its position in Mirum Pharmaceuticals by 10.8% during the third quarter. Commonwealth Equity Services LLC now owns 2,471 shares of the company’s stock worth $211,000 after buying an additional 241 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Mirum Pharmaceuticals during the second quarter worth approximately $44,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.