Mirum Pharmaceuticals’ (MIRM) Buy Rating Reiterated at HC Wainwright

Mirum Pharmaceuticals (NASDAQ:MIRM)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $130.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 46.88% from the company’s previous close.

MIRM has been the subject of several other research reports. Leerink Partners reduced their price target on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Friday, December 19th. Royal Bank Of Canada reduced their target price on shares of Mirum Pharmaceuticals from $130.00 to $128.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Thursday, January 22nd. Finally, Robert W. Baird lifted their price target on Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Mirum Pharmaceuticals Trading Down 2.4%

NASDAQ MIRM opened at $88.51 on Monday. Mirum Pharmaceuticals has a one year low of $36.88 and a one year high of $109.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.67 and a quick ratio of 2.55. The firm has a market cap of $5.34 billion, a P/E ratio of -184.39 and a beta of 0.52. The stock’s 50-day moving average is $96.54 and its 200-day moving average is $81.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The business had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Mirum Pharmaceuticals’s revenue for the quarter was up 49.8% compared to the same quarter last year. Sell-side analysts anticipate that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Joanne Quan sold 7,287 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the sale, the insider owned 18,864 shares of the company’s stock, valued at approximately $1,735,110.72. The trade was a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter Radovich sold 16,515 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $1,519,049.70. Following the sale, the chief operating officer owned 40,272 shares in the company, valued at $3,704,218.56. The trade was a 29.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 121,942 shares of company stock worth $11,416,645. 22.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIRM. CWM LLC raised its stake in shares of Mirum Pharmaceuticals by 30.8% during the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Mirum Pharmaceuticals by 0.4% in the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock valued at $2,189,000 after buying an additional 176 shares in the last quarter. MCF Advisors LLC increased its holdings in Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after buying an additional 185 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Mirum Pharmaceuticals by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock worth $253,000 after buying an additional 200 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in Mirum Pharmaceuticals by 34.0% during the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock worth $70,000 after acquiring an additional 243 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.