Raymond James Raises Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $70.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price lifted by Raymond James from $69.00 to $70.00 in a report released on Wednesday, Analyst Price Targets reports. Raymond James currently has a strong-buy rating on the stock.

MIRM has been the subject of a number of other reports. Zacks Investment Research raised Mirum Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, November 16th. HC Wainwright boosted their target price on Mirum Pharmaceuticals from $51.00 to $64.00 and gave the stock a buy rating in a research note on Thursday, September 30th. SVB Leerink boosted their target price on Mirum Pharmaceuticals from $32.00 to $41.00 and gave the stock an outperform rating in a research note on Thursday, September 30th. Robert W. Baird upped their price objective on Mirum Pharmaceuticals from $30.00 to $34.00 and gave the stock an outperform rating in a research report on Thursday, September 30th. Finally, JPMorgan Chase & Co. initiated coverage on Mirum Pharmaceuticals in a research note on Monday, September 20th. They set an overweight rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $43.50.

Shares of Mirum Pharmaceuticals stock opened at $18.74 on Wednesday. Mirum Pharmaceuticals has a one year low of $12.82 and a one year high of $22.14. The business’s 50 day moving average price is $15.23 and its 200 day moving average price is $15.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Monday, November 15th. The company reported ($1.55) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.63) by $0.08. The business had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $5.00 million. During the same quarter in the prior year, the firm earned ($0.86) EPS. On average, research analysts predict that Mirum Pharmaceuticals will post -3.8 earnings per share for the current year.

In other news, CEO Christopher Peetz purchased 7,000 shares of the stock in a transaction that occurred on Wednesday, November 24th. The shares were acquired at an average price of $14.40 per share, for a total transaction of $100,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 8,450 shares of company stock worth $121,305. Insiders own 62.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. BVF Inc. IL acquired a new stake in Mirum Pharmaceuticals during the 3rd quarter valued at $8,684,000. BioImpact Capital LLC acquired a new stake in Mirum Pharmaceuticals during the 3rd quarter valued at $6,146,000. AXA S.A. grew its holdings in Mirum Pharmaceuticals by 28.8% during the 3rd quarter. AXA S.A. now owns 852,172 shares of the company’s stock valued at $16,975,000 after buying an additional 190,580 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Mirum Pharmaceuticals by 668.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 144,400 shares of the company’s stock valued at $2,876,000 after buying an additional 125,600 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Mirum Pharmaceuticals by 194.8% during the 3rd quarter. Millennium Management LLC now owns 132,586 shares of the company’s stock valued at $2,641,000 after buying an additional 87,615 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company. The firm focuses on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Its product candidates include Maralixibat and Volixibat. The company was founded by Niall O’Donnel, Michael Grey and Christopher Peetz on May 7, 2018 and is headquartered in Foster City, CA.

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Analyst Recommendations for Mirum Pharmaceuticals (NASDAQ:MIRM)

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