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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective hoisted by HC Wainwright from $200.00 to $202.00 in a research report sent to investors on Wednesday, MarketBeat reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Weiss Ratings cut Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 22nd. Citigroup increased their price objective on shares of Mirum Pharmaceuticals from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Citizens Jmp reissued a “market outperform” rating and set a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. TD Cowen upped their price target on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $189.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.56.

Mirum Pharmaceuticals Stock Up 11.4%

NASDAQ:MIRM opened at $96.97 on Wednesday. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of -6.27 and a beta of 0.75. Mirum Pharmaceuticals has a twelve month low of $63.23 and a twelve month high of $130.00. The stock’s 50 day moving average price is $89.51 and its two-hundred day moving average price is $98.44. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.87) EPS 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 net margin of 134.75% and a negative return on equity of 65.71%. The company’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. Equities research analysts expect that Mirum Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the sale, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at approximately $3,631,864.50. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on 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 completion of the sale, the senior vice president directly owned 1,274 shares of the company’s stock, valued at approximately $127,400. This trade represents a 96.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 116,659 shares of company stock valued at $11,404,100 over the last ninety days. 8.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in Mirum Pharmaceuticals by 14.5% in the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after acquiring an additional 880,505 shares during the period. Jupiter Topco LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $691,672,000. BlackRock Inc. acquired a new position in shares of Mirum Pharmaceuticals during the second quarter worth approximately $513,945,000. William Blair Investment Management LLC acquired a new position in shares of Mirum Pharmaceuticals during the second quarter worth approximately $164,453,000. Finally, Rock Springs Capital Management LP raised its position in shares of Mirum Pharmaceuticals by 6.4% during the first quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company’s stock worth $74,947,000 after purchasing an additional 49,000 shares during the period.

More Mirum Pharmaceuticals News

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Several firms raised their price targets: Citizens JMP to $167 from $144, HC Wainwright to $202 from $200, and Cantor Fitzgerald to $160 from $155. RBC reaffirmed its “outperform” rating and $155 target. The favorable analyst outlook is a likely driver of the stock’s strength. Citizens JMP recommendations HC Wainwright recommendations Cantor Fitzgerald recommendations RBC rating report
• Positive Sentiment: Third-quarter revenue rose 39.6% year over year to $185.72 million, exceeding analyst expectations of about $178 million. Mirum Q3 results and business update
• Positive Sentiment: Mirum also announced new data across its rare liver disease portfolio for presentation at AASLD’s The Liver Meeting, a potential source of investor interest in its pipeline. AASLD portfolio data announcement
• Negative Sentiment: The company reported a Q3 loss of $0.87 per share, wider than the roughly $0.49–$0.53 loss analysts expected, and below the $0.05 per-share profit a year earlier. This earnings miss tempers the positive revenue and analyst news. Q3 earnings report

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.