Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $140.00 Price Target at Leerink Partners

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target cut by stock analysts at Leerink Partners from $154.00 to $140.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners‘s target price suggests a potential upside of 49.67% from the stock’s previous close.

MIRM has been the topic of several other reports. Citizens Jmp increased their price target on shares of Mirum Pharmaceuticals from $144.00 to $167.00 and gave the company a “market outperform” rating in a research report on Wednesday. UBS Group set a $137.00 price objective on Mirum Pharmaceuticals in a research report on Thursday, August 27th. Evercore reiterated an “outperform” rating and set a $146.00 target price on shares of Mirum Pharmaceuticals in a report on Tuesday, October 13th. Weiss Ratings cut Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 22nd. Finally, Robert W. Baird raised their price target on Mirum Pharmaceuticals from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $154.94.

Mirum Pharmaceuticals Price Performance

Shares of Mirum Pharmaceuticals stock traded down $3.43 on Thursday, hitting $93.54. The company’s stock had a trading volume of 864,108 shares, compared to its average volume of 837,909. Mirum Pharmaceuticals has a 52-week low of $63.23 and a 52-week high of $130.00. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. The firm has a fifty day moving average price of $89.51 and a 200-day moving average price of $98.44. The company has a market capitalization of $6.07 billion, a P/E ratio of -6.05 and a beta of 0.75.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.38). The business had revenue of $185.72 million for the quarter, compared to analysts’ expectations of $178.07 million. Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 65.71%. The business’s revenue was up 39.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. On average, equities research analysts expect that Mirum Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the sale, the chief executive officer owned 194,440 shares in the company, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 that occurred on 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 directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. The trade was a 14.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 116,659 shares of company stock valued at $11,404,100. Company insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at $27,000. Summit Securities Group LLC purchased a new position in Mirum Pharmaceuticals during the first quarter worth about $42,000. Quantbot Technologies LP acquired a new stake in Mirum Pharmaceuticals in the 2nd quarter worth about $44,000. State of Wyoming acquired a new stake in Mirum Pharmaceuticals in the 2nd quarter worth about $52,000. Finally, Fifth Third Bancorp acquired a new stake in Mirum Pharmaceuticals in the 1st quarter worth about $56,000.

More Mirum Pharmaceuticals News

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Analysts lifted price targets after the results: Citizens JMP raised its target to $167 from $144, HC Wainwright to $202 from $200, and Cantor Fitzgerald to $160 from $155. RBC reiterated its “Outperform” rating and $155 target. Analyst rating coverage
• Positive Sentiment: Q3 revenue increased 39.6% year over year to $185.72 million, beating estimates of about $178 million. A post-earnings report also described a strong share response, reflecting attention to the revenue beat. Q3 results and business update
• Neutral Sentiment: CEO Christopher Peetz sold 20,000 shares for $1.8 million under a pre-arranged Rule 10b5-1 trading plan. He retained 206,637 shares after the transaction, which may temper concerns that the sale reflects a change in outlook. CEO transaction details
• Negative Sentiment: Mirum reported a Q3 loss of $0.87 per share, wider than analysts’ expected loss of roughly $0.49–$0.53 and compared with earnings of $0.05 per share a year earlier. The earnings miss offsets some of the strength in revenue. Q3 earnings coverage

About Mirum Pharmaceuticals

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.