Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 8.9% Following Analyst Upgrade

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price rose 8.9% during trading on Friday after Citizens Jmp raised their price target on the stock from $95.00 to $140.00. Citizens Jmp currently has a market outperform rating on the stock. Mirum Pharmaceuticals traded as high as $74.38 and last traded at $76.52. Approximately 105,124 shares changed hands during trading, a decline of 81% from the average daily volume of 563,371 shares. The stock had previously closed at $70.28.

A number of other analysts also recently commented on MIRM. Wall Street Zen raised Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 26th. TD Cowen upgraded Mirum Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. lifted their target price on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Raymond James Financial reissued a “strong-buy” rating and issued a $110.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, December 11th. Finally, Stifel Nicolaus increased their price target on shares of Mirum Pharmaceuticals from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mirum Pharmaceuticals has an average rating of “Buy” and a consensus target price of $100.25.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. CWM LLC raised its stake in Mirum Pharmaceuticals by 30.8% in the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock valued at $50,000 after acquiring an additional 161 shares during the period. Legal & General Group Plc increased its stake in shares of Mirum Pharmaceuticals by 0.4% in the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock worth $2,189,000 after purchasing an additional 176 shares in the last quarter. MCF Advisors LLC raised its position in shares of Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Mirum Pharmaceuticals by 2.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company’s stock valued at $504,000 after buying an additional 215 shares in the last quarter. Finally, Palumbo Wealth Management LLC lifted its stake in shares of Mirum Pharmaceuticals by 4.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 5,604 shares of the company’s stock valued at $285,000 after buying an additional 228 shares in the last quarter.

Mirum Pharmaceuticals Stock Performance

The company has a market capitalization of $3.92 billion, a P/E ratio of -88.15 and a beta of 0.42. The company has a current ratio of 3.31, a quick ratio of 3.16 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average is $70.38 and its 200 day moving average is $64.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.15. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. The business had revenue of $133.01 million for the quarter, compared to analysts’ expectations of $130.11 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

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.