JMP Securities Cuts Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $66.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective dropped by equities researchers at JMP Securities from $72.00 to $66.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 155.52% from the stock’s previous close.

A number of other equities analysts also recently weighed in on MIRM. Citigroup boosted their target price on shares of Mirum Pharmaceuticals from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday. SVB Leerink reduced their target price on Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday. Stifel Nicolaus began coverage on shares of Mirum Pharmaceuticals in a report on Wednesday, April 17th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $50.36.

Mirum Pharmaceuticals Stock Up 3.2 %

NASDAQ MIRM traded up $0.79 during trading on Thursday, hitting $25.83. The stock had a trading volume of 631,766 shares, compared to its average volume of 544,566. The company has a market capitalization of $1.22 billion, a PE ratio of -6.51 and a beta of 1.13. Mirum Pharmaceuticals has a 12 month low of $23.14 and a 12 month high of $35.56. The company’s 50-day moving average price is $25.91 and its two-hundred day moving average price is $28.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.19 and a current ratio of 4.45.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 86.33% and a negative return on equity of 66.24%. The business had revenue of $69.55 million during the quarter, compared to analyst estimates of $66.73 million. As a group, sell-side analysts forecast that Mirum Pharmaceuticals will post -1.34 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average price of $24.80 per share, with a total value of $49,600.00. Following the acquisition, the chief financial officer now owns 14,000 shares in the company, valued at approximately $347,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Eric Bjerkholt bought 2,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $24.80 per share, with a total value of $49,600.00. Following the acquisition, the chief financial officer now directly owns 14,000 shares in the company, valued at $347,200. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Peter Radovich sold 4,303 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the sale, the chief operating officer now directly owns 29,013 shares in the company, valued at $748,535.40. The disclosure for this sale can be found here. 22.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC bought a new position in shares of Mirum Pharmaceuticals during the third quarter worth about $379,000. Raymond James & Associates boosted its stake in shares of Mirum Pharmaceuticals by 57.1% in the 3rd quarter. Raymond James & Associates now owns 106,207 shares of the company’s stock valued at $3,356,000 after purchasing an additional 38,619 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Mirum Pharmaceuticals by 31.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 49,891 shares of the company’s stock worth $1,577,000 after buying an additional 11,862 shares during the period. Bank of New York Mellon Corp raised its stake in Mirum Pharmaceuticals by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 118,051 shares of the company’s stock worth $3,730,000 after buying an additional 5,861 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Mirum Pharmaceuticals by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,106 shares of the company’s stock valued at $541,000 after buying an additional 3,069 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.