Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Given Average Recommendation of “Buy” by Analysts

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have earned an average rating of “Buy” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $56.27.

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, June 17th. JMP Securities lifted their price target on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a report on Tuesday, June 18th. Baird R W raised shares of Mirum Pharmaceuticals to a “strong-buy” rating in a report on Monday, June 17th. Finally, Cantor Fitzgerald lifted their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 8th.

Mirum Pharmaceuticals Price Performance

Shares of Mirum Pharmaceuticals stock opened at $41.65 on Friday. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $45.23. The company has a quick ratio of 3.09, a current ratio of 3.28 and a debt-to-equity ratio of 1.34. The company has a 50-day simple moving average of $39.71 and a two-hundred day simple moving average of $31.13. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -11.23 and a beta of 1.14.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The business had revenue of $77.90 million during the quarter, compared to analyst estimates of $75.03 million. During the same quarter last year, the firm earned ($0.92) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 107.7% compared to the same quarter last year. Analysts forecast that Mirum Pharmaceuticals will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares of the company’s stock, valued at approximately $931,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after purchasing an additional 432,824 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Mirum Pharmaceuticals by 18.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 266,681 shares of the company’s stock worth $7,872,000 after purchasing an additional 42,110 shares during the period. California State Teachers Retirement System lifted its position in shares of Mirum Pharmaceuticals by 672.9% in the 4th quarter. California State Teachers Retirement System now owns 211,111 shares of the company’s stock worth $6,232,000 after purchasing an additional 183,798 shares during the period. CenterBook Partners LP lifted its position in shares of Mirum Pharmaceuticals by 242.4% in the 4th quarter. CenterBook Partners LP now owns 51,837 shares of the company’s stock worth $1,530,000 after purchasing an additional 36,699 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Mirum Pharmaceuticals by 64.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock worth $4,090,000 after purchasing an additional 63,871 shares during the period.

About Mirum Pharmaceuticals

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.