Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $76.00 Price Target at JMP Securities

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target lifted by JMP Securities from $74.00 to $76.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

MIRM has been the subject of a number of other research reports. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. HC Wainwright raised their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of “Buy” and an average target price of $59.00.

Mirum Pharmaceuticals Trading Down 2.1 %

MIRM opened at $44.27 on Friday. Mirum Pharmaceuticals has a 52 week low of $23.83 and a 52 week high of $54.23. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The business has a fifty day simple moving average of $42.82 and a 200-day simple moving average of $44.22. The firm has a market cap of $2.19 billion, a P/E ratio of -21.92 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The company had revenue of $111.59 million during the quarter, compared to analysts’ expectations of $98.47 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. Mirum Pharmaceuticals’s revenue for the quarter was up 61.2% on a year-over-year basis. During the same period last year, the business posted ($0.54) EPS. On average, equities analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 27,279 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.21, for a total value of $1,206,004.59. Following the transaction, the chief executive officer now directly owns 138,641 shares in the company, valued at $6,129,318.61. This represents a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Peter Radovich sold 7,879 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $348,330.59. Following the sale, the chief operating officer now owns 18,672 shares of the company’s stock, valued at $825,489.12. This represents a 29.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,764 shares of company stock worth $4,109,161. Corporate insiders own 14.36% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its position in shares of Mirum Pharmaceuticals by 2.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company’s stock valued at $189,481,000 after purchasing an additional 101,358 shares during the period. Vanguard Group Inc. raised its position in Mirum Pharmaceuticals by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company’s stock valued at $114,430,000 after purchasing an additional 115,327 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Mirum Pharmaceuticals by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company’s stock worth $58,831,000 after purchasing an additional 138,623 shares during the period. Geode Capital Management LLC increased its stake in Mirum Pharmaceuticals by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock valued at $39,016,000 after purchasing an additional 7,147 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Mirum Pharmaceuticals by 2.0% in the fourth quarter. Clearbridge Investments LLC now owns 907,317 shares of the company’s stock valued at $37,518,000 after buying an additional 18,217 shares during the last quarter.

About Mirum Pharmaceuticals

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.