Citigroup Boosts Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $68.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by Citigroup from $65.00 to $68.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other brokerages have also commented on MIRM. HC Wainwright reiterated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Leerink Partners lifted their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird raised their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI increased their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald boosted their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM traded up $1.35 during trading hours on Wednesday, hitting $45.27. The company had a trading volume of 65,083 shares, compared to its average volume of 555,885. The firm has a 50 day simple moving average of $39.96 and a 200 day simple moving average of $35.79. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $45.81. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -21.74 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. The business had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 40.98%. Mirum Pharmaceuticals’s revenue for the quarter was up 89.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.57) earnings per share. Equities research analysts expect that Mirum Pharmaceuticals will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. Quest Partners LLC boosted its stake in Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after purchasing an additional 1,127 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Mirum Pharmaceuticals by 22.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after buying an additional 318 shares during the last quarter. ProShare Advisors LLC bought a new stake in Mirum Pharmaceuticals in the 2nd quarter worth about $213,000. Finally, Creative Planning purchased a new position in Mirum Pharmaceuticals in the 3rd quarter worth about $249,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.