Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have earned an average rating of “Buy” from the twelve analysts that are currently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $56.27.

Several brokerages have weighed in on MIRM. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a report on Friday, July 26th. Robert W. Baird upped their price objective on shares of Mirum Pharmaceuticals from $39.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. JMP Securities raised their target price on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a report on Tuesday, June 18th. Citigroup upped their price target on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Cantor Fitzgerald increased their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th.

Insiders Place Their Bets

In other news, insider Pamela Vig sold 30,559 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $34.00, for a total value of $1,039,006.00. Following the completion of the transaction, the insider now directly owns 27,406 shares in the company, valued at approximately $931,804. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total value of $1,039,006.00. Following the completion of the transaction, the insider now owns 27,406 shares in the company, valued at approximately $931,804. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Saira Ramasastry sold 5,000 shares of the business’s 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,934 shares of company stock valued at $1,180,156. 22.87% of the stock is currently owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings 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 worth $40,131,000 after purchasing an additional 432,824 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Mirum Pharmaceuticals by 18.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 266,681 shares of the company’s stock valued at $7,872,000 after buying an additional 42,110 shares during the period. California State Teachers Retirement System boosted its position in Mirum Pharmaceuticals by 672.9% during the fourth quarter. California State Teachers Retirement System now owns 211,111 shares of the company’s stock valued at $6,232,000 after acquiring an additional 183,798 shares during the last quarter. CenterBook Partners LP grew its holdings in Mirum Pharmaceuticals by 242.4% during the 4th quarter. CenterBook Partners LP now owns 51,837 shares of the company’s stock worth $1,530,000 after acquiring an additional 36,699 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its position in shares of Mirum Pharmaceuticals by 64.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock worth $4,090,000 after acquiring an additional 63,871 shares in the last quarter.

Mirum Pharmaceuticals Stock Down 2.0 %

MIRM opened at $40.70 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.47 and a current ratio of 3.68. The stock has a fifty day moving average of $36.31 and a 200-day moving average of $29.75. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $44.94. The company has a market capitalization of $1.92 billion, a P/E ratio of -10.97 and a beta of 1.15.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The business had revenue of $77.90 million during the quarter, compared to the consensus estimate of $75.03 million. During the same period in the prior year, the firm earned ($0.92) EPS. The business’s revenue for the quarter was up 107.7% on a year-over-year basis. On average, equities analysts expect that Mirum Pharmaceuticals will post -1.66 EPS 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.