Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Lowered to $51.00 at HC Wainwright

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective cut by HC Wainwright from $52.00 to $51.00 in a report published on Tuesday morning, PriceTargets.com reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on MIRM. Raymond James lowered their target price on shares of Mirum Pharmaceuticals from $52.00 to $51.00 and set a strong-buy rating for the company in a report on Tuesday. Zacks Investment Research upgraded shares of Mirum Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, August 10th. Finally, SVB Leerink cut their price objective on shares of Mirum Pharmaceuticals from $33.00 to $32.00 and set an outperform rating for the company in a research report on Monday, September 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Mirum Pharmaceuticals has an average rating of Buy and a consensus target price of $37.20.

Mirum Pharmaceuticals stock opened at $18.08 on Tuesday. The company’s 50 day simple moving average is $15.76 and its 200-day simple moving average is $17.24. The company has a market capitalization of $551.73 million, a price-to-earnings ratio of -3.34 and a beta of 2.30. Mirum Pharmaceuticals has a 1 year low of $13.85 and a 1 year high of $26.31.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Thursday, August 5th. The company reported ($1.45) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($1.04). As a group, equities research analysts forecast that Mirum Pharmaceuticals will post -5.31 earnings per share for the current year.

In other Mirum Pharmaceuticals news, major shareholder James E. Flynn sold 49,239 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $16.20, for a total transaction of $797,671.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder James E. Flynn sold 99,325 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Friday, July 9th. The shares were sold at an average price of $15.81, for a total transaction of $1,570,328.25. The disclosure for this sale can be found here. Insiders have sold a total of 159,163 shares of company stock worth $2,548,289 over the last ninety days. 62.50% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of MIRM. California State Teachers Retirement System boosted its holdings in Mirum Pharmaceuticals by 9.9% in the first quarter. California State Teachers Retirement System now owns 8,696 shares of the company’s stock worth $172,000 after purchasing an additional 780 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Mirum Pharmaceuticals by 8.6% during the second quarter. Los Angeles Capital Management LLC now owns 20,940 shares of the company’s stock valued at $362,000 after acquiring an additional 1,666 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Mirum Pharmaceuticals by 12.1% during the second quarter. Alliancebernstein L.P. now owns 16,700 shares of the company’s stock valued at $289,000 after acquiring an additional 1,800 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Mirum Pharmaceuticals by 1.1% during the second quarter. Geode Capital Management LLC now owns 174,271 shares of the company’s stock valued at $3,013,000 after acquiring an additional 1,841 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Mirum Pharmaceuticals by 4.1% during the second quarter. Invesco Ltd. now owns 47,328 shares of the company’s stock valued at $818,000 after acquiring an additional 1,858 shares during the period. Institutional investors and hedge funds own 76.74% of the company’s stock.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company. The firm focuses on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Its product candidates include Maralixibat and Volixibat. The company was founded by Niall O’Donnel, Michael Grey and Christopher Peetz on May 7, 2018 and is headquartered in Foster City, CA.

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