Brokerages Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Price Target at $58.20

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have received a consensus recommendation of “Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $58.20.

Several equities research analysts have weighed in on the company. HC Wainwright upped their price target on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 7,489 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the sale, the chief executive officer now directly owns 119,359 shares of the company’s stock, valued at approximately $5,110,952.38. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jolanda Howe sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $32,115.00. Following the sale, the senior vice president now directly owns 2,926 shares of the company’s stock, valued at approximately $125,291.32. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,679 shares of company stock worth $6,007,081 over the last 90 days. Corporate insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Mirum Pharmaceuticals by 46.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,375 shares of the company’s stock worth $2,628,000 after purchasing an additional 21,526 shares during the period. Intech Investment Management LLC purchased a new position in Mirum Pharmaceuticals during the third quarter worth about $497,000. Charles Schwab Investment Management Inc. lifted its position in Mirum Pharmaceuticals by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock valued at $12,798,000 after purchasing an additional 17,149 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $19,473,000. Finally, FORA Capital LLC purchased a new stake in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $399,000.

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock opened at $45.05 on Tuesday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -22.30 and a beta of 1.04. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The business has a 50-day moving average of $47.97 and a 200 day moving average of $43.91. Mirum Pharmaceuticals has a 12 month low of $23.14 and a 12 month high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $99.41 million for the quarter, compared to analysts’ expectations of $96.64 million. As a group, sell-side analysts forecast that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.