Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Target Raised at Citizens Jmp

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price upped by Citizens Jmp from $144.00 to $167.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other equities analysts have also commented on MIRM. Evercore restated an “outperform” rating and issued a $146.00 price target on shares of Mirum Pharmaceuticals in a research report on Tuesday, October 13th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $189.00 price objective on shares of Mirum Pharmaceuticals in a report on Wednesday. TD Cowen lifted their target price on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Finally, Royal Bank Of Canada boosted their target price on Mirum Pharmaceuticals from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.56.

Mirum Pharmaceuticals Stock Up 11.4%

Shares of NASDAQ MIRM opened at $96.97 on Wednesday. Mirum Pharmaceuticals has a 52-week low of $63.23 and a 52-week high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The business has a fifty day moving average of $89.51 and a two-hundred day moving average of $98.44. The stock has a market cap of $6.30 billion, a PE ratio of -6.27 and a beta of 0.75.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.38). The firm had revenue of $185.72 million during the quarter, compared to the consensus estimate of $178.07 million. Mirum Pharmaceuticals had a negative return on equity of 65.71% and a negative net margin of 134.75%. The firm’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. As a group, equities research analysts expect that Mirum Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $90.00, for a total value of $1,800,000.00. Following the completion of the sale, the chief executive officer directly owned 206,637 shares in the company, valued at approximately $18,597,330. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 658 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $65,800.00. Following the completion of the transaction, the senior vice president directly owned 616 shares of the company’s stock, valued at $61,600. This represents a 51.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 116,659 shares of company stock worth $11,404,100. 8.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised 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 during the last quarter. Jupiter Topco LLC acquired a new position in shares of Mirum Pharmaceuticals during the second quarter worth approximately $691,672,000. BlackRock Inc. acquired a new position in shares of Mirum Pharmaceuticals during the second quarter worth approximately $513,945,000. William Blair Investment Management LLC acquired a new position in shares of Mirum Pharmaceuticals during the second quarter worth approximately $164,453,000. Finally, Rock Springs Capital Management LP grew its stake in shares of Mirum Pharmaceuticals by 6.4% during the first quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company’s stock valued at $74,947,000 after purchasing an additional 49,000 shares during the last quarter.

Mirum Pharmaceuticals News Summary

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Several firms raised their price targets: Citizens JMP to $167 from $144, HC Wainwright to $202 from $200, and Cantor Fitzgerald to $160 from $155. RBC reaffirmed its “outperform” rating and $155 target. The favorable analyst outlook is a likely driver of the stock’s strength. Citizens JMP recommendations HC Wainwright recommendations Cantor Fitzgerald recommendations RBC rating report
• Positive Sentiment: Third-quarter revenue rose 39.6% year over year to $185.72 million, exceeding analyst expectations of about $178 million. Mirum Q3 results and business update
• Positive Sentiment: Mirum also announced new data across its rare liver disease portfolio for presentation at AASLD’s The Liver Meeting, a potential source of investor interest in its pipeline. AASLD portfolio data announcement
• Negative Sentiment: The company reported a Q3 loss of $0.87 per share, wider than the roughly $0.49–$0.53 loss analysts expected, and below the $0.05 per-share profit a year earlier. This earnings miss tempers the positive revenue and analyst news. Q3 earnings report

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.