Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research note issued to investors on Friday, Benzinga reports. HC Wainwright currently has a $66.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an overweight rating in a research report on Tuesday, June 18th. JMP Securities increased their price target on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a market outperform rating in a research report on Tuesday, June 18th. Robert W. Baird increased their price target on shares of Mirum Pharmaceuticals from $34.00 to $39.00 and gave the company an outperform rating in a research report on Monday, June 17th. SVB Leerink dropped their price target on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an outperform rating for the company in a research report on Monday, March 18th. Finally, Morgan Stanley increased their price target on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an overweight rating in a research report on Tuesday, June 18th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $53.64.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $34.16 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.47 and a current ratio of 3.68. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $35.56. The firm’s fifty day moving average is $26.62 and its 200 day moving average is $27.22. The firm has a market cap of $1.61 billion, a P/E ratio of -9.21 and a beta of 1.15.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, May 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.14). Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The business had revenue of $69.22 million for the quarter, compared to the consensus estimate of $69.71 million. Research analysts predict that Mirum Pharmaceuticals will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 27,406 shares in the company, valued at approximately $931,804. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The disclosure for this sale can be found here. 22.87% of the stock is owned by company insiders.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of MIRM. First Turn Management LLC bought a new stake in Mirum Pharmaceuticals during the 4th quarter valued at about $24,688,000. Janus Henderson Group PLC increased its stake in Mirum Pharmaceuticals by 34.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after purchasing an additional 704,659 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Mirum Pharmaceuticals during the 3rd quarter valued at about $21,014,000. Cadian Capital Management LP increased its stake in Mirum Pharmaceuticals by 34.8% during the 4th quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock valued at $57,119,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake 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 in the last quarter.

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.