Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Increased to $38.00 by Analysts at Citigroup

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price hoisted by research analysts at Citigroup from $37.00 to $38.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 47.12% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. JMP Securities raised their target price on shares of Mirum Pharmaceuticals from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $58.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday. Stifel Nicolaus started coverage on Mirum Pharmaceuticals in a research note on Wednesday, April 17th. They set a “buy” rating and a $48.00 target price on the stock. Finally, SVB Leerink dropped their target price on Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $50.36.

Mirum Pharmaceuticals Stock Up 3.2 %

Shares of MIRM stock traded up $0.79 during trading on Thursday, reaching $25.83. The company’s stock had a trading volume of 631,766 shares, compared to its average volume of 544,566. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $35.56. The business has a fifty day moving average price of $25.91 and a 200-day moving average price of $28.12. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -6.51 and a beta of 1.13. The company has a quick ratio of 4.19, a current ratio of 4.45 and a debt-to-equity ratio of 1.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. The company had revenue of $69.55 million for the quarter, compared to analyst estimates of $66.73 million. Analysts anticipate that Mirum Pharmaceuticals will post -1.34 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt bought 2,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $25.80 per share, with a total value of $51,600.00. Following the completion of the purchase, the chief financial officer now directly owns 12,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Eric Bjerkholt purchased 2,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $25.80 per share, for a total transaction of $51,600.00. Following the completion of the transaction, the chief financial officer now owns 12,000 shares in the company, valued at $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Peter Radovich sold 4,303 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $25.80, for a total value of $111,017.40. Following the sale, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The disclosure for this sale can be found here. Corporate insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently made changes to their positions in MIRM. Commonwealth Equity Services LLC purchased a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter worth about $379,000. Raymond James & Associates raised its stake in shares of Mirum Pharmaceuticals by 57.1% in the third quarter. Raymond James & Associates now owns 106,207 shares of the company’s stock worth $3,356,000 after purchasing an additional 38,619 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Mirum Pharmaceuticals by 31.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 49,891 shares of the company’s stock valued at $1,577,000 after acquiring an additional 11,862 shares during the period. Bank of New York Mellon Corp raised its stake in Mirum Pharmaceuticals by 5.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 118,051 shares of the company’s stock valued at $3,730,000 after buying an additional 5,861 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Mirum Pharmaceuticals by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,106 shares of the company’s stock worth $541,000 after purchasing an additional 3,069 shares during the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.