Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $142.56.

Several brokerages have recently issued reports on MIRM. Citizens Jmp reaffirmed a “market outperform” rating and issued a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. TD Cowen dropped their target price on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Citigroup restated a “buy” rating and issued a $160.00 price target (up from $145.00) on shares of Mirum Pharmaceuticals in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Finally, Royal Bank Of Canada dropped their price objective on Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, August 6th.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $82.93 on Friday. The business’s fifty day moving average is $97.95 and its two-hundred day moving average is $101.24. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The firm has a market cap of $5.38 billion, a P/E ratio of -5.70 and a beta of 0.61. Mirum Pharmaceuticals has a 52 week low of $63.23 and a 52 week high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The company’s revenue was up 37.9% compared to the same quarter last year. During the same period last year, the company earned ($0.12) EPS. Equities research analysts forecast that Mirum Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 194,440 shares in the company, valued at approximately $19,187,339.20. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the transaction, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 123,499 shares of company stock valued at $12,854,484 in the last ninety days. 8.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP boosted its holdings in shares of Mirum Pharmaceuticals by 218.2% in the second quarter. Engineers Gate Manager LP now owns 8,143 shares of the company’s stock valued at $953,000 after buying an additional 5,584 shares during the period. Insight Wealth Partners LLC acquired a new stake in shares of Mirum Pharmaceuticals during the second quarter worth $395,000. Integrated Wealth Concepts LLC bought a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at $27,000. Arizona State Retirement System lifted its position in Mirum Pharmaceuticals by 12.6% in the 2nd quarter. Arizona State Retirement System now owns 11,655 shares of the company’s stock valued at $1,364,000 after acquiring an additional 1,306 shares in the last quarter. Finally, Nykredit A S bought a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at $247,000.

About Mirum Pharmaceuticals

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.