Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Gets Price Target Bump from HC Wainwright

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target boosted by analysts at HC Wainwright from $140.00 to $195.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 126.60% from the stock’s previous close.

MIRM has been the topic of a number of other research reports. Weiss Ratings raised Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Citizens Jmp restated a “market outperform” rating and issued a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Finally, UBS Group set a $137.00 target price on Mirum Pharmaceuticals in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.75.

Mirum Pharmaceuticals Stock Down 4.1%

NASDAQ MIRM traded down $3.65 during trading hours on Monday, hitting $86.06. The company’s stock had a trading volume of 476,568 shares, compared to its average volume of 847,109. The company has a market capitalization of $5.59 billion, a PE ratio of -5.93 and a beta of 0.49. Mirum Pharmaceuticals has a 52 week low of $63.23 and a 52 week high of $130.00. The company’s 50-day simple moving average is $100.90 and its two-hundred day simple moving average is $101.50. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The company had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. During the same quarter last year, the business posted ($0.12) earnings per share. Mirum Pharmaceuticals’s revenue was up 37.9% on a year-over-year basis. Research analysts anticipate that Mirum Pharmaceuticals will post -1.31 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction 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 approximately $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 dated 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 transaction, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 126,220 shares of company stock worth $13,181,004 over the last quarter. 8.32% of the stock is owned by corporate insiders.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors have recently bought and sold shares of MIRM. Jupiter Topco LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter valued at about $691,672,000. Janus Henderson Group PLC boosted its stake in shares of Mirum Pharmaceuticals by 14.5% during the 1st 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. BlackRock Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth $513,945,000. ABS Investment Management LLC purchased a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $245,847,000. Finally, William Blair Investment Management LLC purchased a new stake in Mirum Pharmaceuticals in the 2nd quarter worth approximately $164,453,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on liver and gastrointestinal disorders. The company’s medicines are intended to address serious conditions for which available treatment options are limited.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor approved in the United States for the treatment of cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible patients.