Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 6.6% After Analyst Upgrade

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) were up 6.6% during trading on Thursday after Citigroup raised their price target on the stock from $65.00 to $68.00. Citigroup currently has a buy rating on the stock. Mirum Pharmaceuticals traded as high as $47.00 and last traded at $46.82. Approximately 207,797 shares were traded during trading, a decline of 63% from the average daily volume of 556,627 shares. The stock had previously closed at $43.92.

Several other equities analysts have also commented on the stock. HC Wainwright reiterated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Cantor Fitzgerald increased their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Evercore ISI increased their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Leerink Partners increased their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average price target of $57.73.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Mirum Pharmaceuticals by 7.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,641 shares of the company’s stock valued at $448,000 after buying an additional 1,246 shares in the last quarter. Russell Investments Group Ltd. increased its position in Mirum Pharmaceuticals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock valued at $439,000 after purchasing an additional 1,825 shares during the period. Affinity Asset Advisors LLC increased its position in Mirum Pharmaceuticals by 220.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company’s stock valued at $4,019,000 after purchasing an additional 110,000 shares during the period. Price T Rowe Associates Inc. MD increased its position in Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after purchasing an additional 432,824 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its position in Mirum Pharmaceuticals by 64.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after purchasing an additional 63,871 shares during the period.

Mirum Pharmaceuticals Stock Down 3.8 %

The company has a current ratio of 3.34, a quick ratio of 3.09 and a debt-to-equity ratio of 1.33. The firm has a market cap of $2.14 billion, a PE ratio of -22.09 and a beta of 1.16. The business’s 50-day simple moving average is $40.06 and its 200 day simple moving average is $35.86.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same quarter last year, the firm posted ($0.57) EPS. The company’s revenue for the quarter was up 89.4% on a year-over-year basis. As a group, equities research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.81 earnings per share for the current year.

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.