HC Wainwright Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target boosted by research analysts at HC Wainwright from $195.00 to $200.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 137.80% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Weiss Ratings raised Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. Robert W. Baird upped their price objective on Mirum Pharmaceuticals from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. JPMorgan Chase & Co. upped their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Finally, Morgan Stanley set a $144.00 target price on Mirum Pharmaceuticals in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.12.

Mirum Pharmaceuticals Price Performance

Shares of MIRM traded down $1.91 during midday trading on Monday, hitting $84.10. 488,793 shares of the company traded hands, compared to its average volume of 852,656. The firm has a 50 day moving average of $95.08 and a 200-day moving average of $100.97. Mirum Pharmaceuticals has a 52 week low of $63.23 and a 52 week high of $130.00. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -5.82 and a beta of 0.61. 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 issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm had revenue of $176.24 million for the quarter, compared to analysts’ expectations of $166.33 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, analysts forecast that Mirum Pharmaceuticals will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the transaction, the senior vice president directly owned 1,274 shares in the company, valued at approximately $127,400. This represents a 96.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 194,440 shares in the company, valued at $19,187,339.20. The trade was a 13.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,499 shares of company stock valued at $9,797,834. Company insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Juncture Wealth Strategies LLC increased its stake in Mirum Pharmaceuticals by 10.7% in the third quarter. Juncture Wealth Strategies LLC now owns 5,330 shares of the company’s stock worth $456,000 after purchasing an additional 515 shares during the period. Engineers Gate Manager LP boosted its stake in shares of Mirum Pharmaceuticals by 218.2% during the second quarter. Engineers Gate Manager LP now owns 8,143 shares of the company’s stock valued at $953,000 after purchasing an additional 5,584 shares during the period. Insight Wealth Partners LLC purchased a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at $395,000. Integrated Wealth Concepts LLC bought a new position in shares of Mirum Pharmaceuticals in the second quarter worth about $27,000. Finally, Arizona State Retirement System grew its holdings in shares of Mirum Pharmaceuticals by 12.6% in the second quarter. Arizona State Retirement System now owns 11,655 shares of the company’s stock worth $1,364,000 after purchasing an additional 1,306 shares during the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare diseases of the liver and gastrointestinal system. The company’s work centers on conditions involving impaired bile acid transport and cholestasis, which can cause serious liver damage and debilitating symptoms such as itching.

Mirum’s primary commercial product is Livmarli (maralixibat), an oral ileal bile acid transporter inhibitor. In the United States, Livmarli is approved to treat cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible pediatric patients.