Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Expected to Rise, Citigroup Analyst Says

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective raised by investment analysts at Citigroup from $184.00 to $194.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s target price would suggest a potential upside of 106.88% from the company’s previous close.

MIRM has been the topic of a number of other reports. Citizens Jmp boosted their price target on shares of Mirum Pharmaceuticals from $144.00 to $167.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 4th. Cantor Fitzgerald upped their price objective on Mirum Pharmaceuticals from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Weiss Ratings cut Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 22nd. Stifel Nicolaus lifted their target price on Mirum Pharmaceuticals from $136.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Finally, Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, September 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $155.56.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM traded down $0.64 during trading hours on Wednesday, reaching $93.78. 167,913 shares of the company’s stock traded hands, compared to its average volume of 833,788. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -6.06 and a beta of 0.75. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.07 and a quick ratio of 1.98. Mirum Pharmaceuticals has a twelve month low of $63.23 and a twelve month high of $130.00. The business’s fifty day simple moving average is $89.13 and its two-hundred day simple moving average is $98.46.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data 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 company had revenue of $185.72 million during the quarter, compared to analyst estimates of $178.07 million. Mirum Pharmaceuticals had a negative return on equity of 97.25% and a negative net margin of 134.75%. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. Analysts predict that Mirum Pharmaceuticals will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the sale, the senior vice president owned 1,274 shares in the company, valued at approximately $127,400. The trade was a 96.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at $19,187,339.20. This represents 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. Insiders sold a total of 90,658 shares of company stock valued at $8,826,200 in the last quarter. 8.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Impax Asset Management Group plc purchased a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $8,548,000. Ground Swell Capital LLC purchased a new position in Mirum Pharmaceuticals during the 3rd quarter worth approximately $564,000. Virtus Advisers LLC raised its stake in Mirum Pharmaceuticals by 16.1% during the 3rd quarter. Virtus Advisers LLC now owns 4,761 shares of the company’s stock valued at $407,000 after purchasing an additional 661 shares during the period. Diversified Trust Co raised its stake in Mirum Pharmaceuticals by 4.3% during the 3rd quarter. Diversified Trust Co now owns 19,876 shares of the company’s stock valued at $1,699,000 after purchasing an additional 826 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Mirum Pharmaceuticals by 137.9% in the third quarter. Fisher Asset Management LLC now owns 196,199 shares of the company’s stock valued at $16,771,000 after purchasing an additional 113,723 shares in the last quarter.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for rare liver and other serious diseases. Founded in 2018, the company works on therapies for conditions with limited treatment options. Its commercial products include Livmarli (maralixibat), an oral treatment for cholestatic pruritus associated with Alagille syndrome and, in the United States, progressive familial intrahepatic cholestasis. Mirum also markets Cholbam (cholic acid) for certain bile acid synthesis disorders and Chenodal (chenodiol) for cerebrotendinous xanthomatosis.