Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $60.00 at Cantor Fitzgerald

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target upped by Cantor Fitzgerald from $50.00 to $60.00 in a research note released on Thursday, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Citigroup lifted their price target on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a buy rating in a research report on Tuesday, June 18th. Baird R W upgraded shares of Mirum Pharmaceuticals to a strong-buy rating in a report on Monday, June 17th. Evercore ISI lifted their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an outperform rating in a research note on Thursday. JMP Securities increased their price objective on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a market outperform rating in a research note on Tuesday, June 18th. Finally, Stifel Nicolaus restated a buy rating and set a $48.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, June 17th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $56.27.

Mirum Pharmaceuticals Stock Up 0.4 %

Shares of MIRM traded up $0.15 during mid-day trading on Thursday, hitting $40.02. 374,584 shares of the company traded hands, compared to its average volume of 634,035. The company has a market capitalization of $1.89 billion, a PE ratio of -10.75 and a beta of 1.15. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average of $34.35 and a 200 day moving average of $29.08. Mirum Pharmaceuticals has a 1-year low of $23.14 and a 1-year high of $44.70.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The company had revenue of $77.90 million for the quarter, compared to analyst estimates of $75.03 million. During the same quarter in the previous year, the company posted ($0.92) EPS. The company’s revenue for the quarter was up 107.7% compared to the same quarter last year. Equities research analysts anticipate that Mirum Pharmaceuticals will post -1.66 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other news, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 27,406 shares of the company’s stock, valued at $931,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $128,400.00. The disclosure for this sale can be found here. Insiders sold a total of 35,934 shares of company stock worth $1,180,156 in the last 90 days. Corporate insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several large investors have recently bought and sold shares of MIRM. Arizona State Retirement System boosted its position in shares of Mirum Pharmaceuticals by 10.6% during the 2nd quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock valued at $315,000 after acquiring an additional 883 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Mirum Pharmaceuticals by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 222,864 shares of the company’s stock valued at $6,579,000 after buying an additional 918 shares during the period. Golden State Equity Partners lifted its holdings in Mirum Pharmaceuticals by 5.3% in the fourth quarter. Golden State Equity Partners now owns 18,930 shares of the company’s stock valued at $559,000 after acquiring an additional 950 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its holdings in Mirum Pharmaceuticals by 71.4% in the first quarter. Wetzel Investment Advisors Inc. now owns 2,400 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Quest Partners LLC increased its stake in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after acquiring an additional 1,127 shares during 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.