Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $146.00 Price Target at Citizens Jmp

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective raised by analysts at Citizens Jmp from $140.00 to $146.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective indicates a potential upside of 41.58% from the company’s current price.

MIRM has been the topic of several other reports. Raymond James Financial restated a “strong-buy” rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Stifel Nicolaus set a $136.00 price target on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 8th. HC Wainwright reaffirmed a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.80.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock traded up $3.77 during midday trading on Monday, reaching $103.12. The company’s stock had a trading volume of 48,856 shares, compared to its average volume of 880,619. The firm has a market capitalization of $6.29 billion, a PE ratio of -7.56 and a beta of 0.50. Mirum Pharmaceuticals has a fifty-two week low of $47.89 and a fifty-two week high of $114.99. The stock’s 50 day simple moving average is $97.89 and its 200 day simple moving average is $91.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The company had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. During the same period last year, the company earned ($0.30) earnings per share. The business’s revenue for the quarter was up 43.3% compared to the same quarter last year. On average, equities research analysts forecast that Mirum Pharmaceuticals will post -2.01 earnings per share for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at $18,622,574.56. This trade represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $93.82, for a total value of $469,100.00. Following the transaction, the chief financial officer owned 44,788 shares of the company’s stock, valued at $4,202,010.16. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently made changes to their positions in MIRM. Comerica Bank boosted its stake in shares of Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares during the last quarter. AQR Capital Management LLC raised its stake in Mirum Pharmaceuticals by 307.3% in the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock valued at $2,211,000 after purchasing an additional 37,028 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mirum Pharmaceuticals by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock valued at $1,176,000 after purchasing an additional 1,720 shares in the last quarter. Caxton Associates LLP purchased a new position in Mirum Pharmaceuticals in the 1st quarter valued at about $217,000. Finally, Empowered Funds LLC boosted its stake in shares of Mirum Pharmaceuticals by 15.4% during the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after purchasing an additional 5,120 shares during the last quarter.

About Mirum Pharmaceuticals

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.