Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $148.19.

MIRM has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Mirum Pharmaceuticals from $136.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Evercore restated an “outperform” rating and set a $146.00 price objective on shares of Mirum Pharmaceuticals in a research note on Tuesday, October 13th. Weiss Ratings downgraded Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 22nd. Finally, Citigroup increased their target price on Mirum Pharmaceuticals from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, October 12th.

Mirum Pharmaceuticals Stock Up 2.8%

NASDAQ MIRM opened at $85.56 on Wednesday. The business has a 50 day moving average price of $90.79 and a 200 day moving average price of $98.46. Mirum Pharmaceuticals has a 1-year low of $63.23 and a 1-year high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The company had revenue of $176.24 million during the quarter, compared to analysts’ expectations of $166.33 million. Mirum Pharmaceuticals’s revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.12) EPS. On average, analysts predict that Mirum Pharmaceuticals will post -1.32 EPS for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the transaction, the chief financial officer owned 36,355 shares in the company, valued at $3,631,864.50. This represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the sale, the chief executive officer owned 194,440 shares in the company, valued at $19,187,339.20. This represents a 13.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 98,499 shares of company stock valued at $9,797,834. Corporate insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

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

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.