Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $68.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price hoisted by JMP Securities from $66.00 to $68.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

MIRM has been the topic of several other reports. Cantor Fitzgerald reissued an overweight rating and issued a $40.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 9th. HC Wainwright raised their target price on Mirum Pharmaceuticals from $58.00 to $66.00 and gave the stock a buy rating in a research note on Monday. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the stock an outperform rating in a research note on Monday. Morgan Stanley raised their target price on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an overweight rating in a research note on Tuesday. Finally, Stifel Nicolaus reissued a buy rating and issued a $48.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $53.64.

Mirum Pharmaceuticals Stock Up 6.5 %

MIRM opened at $31.14 on Tuesday. The company has a market cap of $1.47 billion, a P/E ratio of -8.39 and a beta of 1.10. The business’s 50-day moving average price is $25.49 and its 200-day moving average price is $27.27. The company has a current ratio of 3.68, a quick ratio of 3.47 and a debt-to-equity ratio of 1.31. Mirum Pharmaceuticals has a 12 month low of $23.14 and a 12 month high of $35.56.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.14). The company had revenue of $69.22 million during the quarter, compared to analysts’ expectations of $69.71 million. Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. On average, equities analysts expect that Mirum Pharmaceuticals will post -1.4 EPS for the current year.

Insider Transactions at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average cost of $24.80 per share, with a total value of $49,600.00. Following the transaction, the chief financial officer now directly owns 14,000 shares in the company, valued at approximately $347,200. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, 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 value of $128,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Eric Bjerkholt purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the transaction, the chief financial officer now owns 14,000 shares in the company, valued at $347,200. The disclosure for this purchase can be found here. Insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Avidity Partners Management LP purchased a new position in Mirum Pharmaceuticals in the 3rd quarter worth approximately $36,114,000. First Turn Management LLC purchased a new position in Mirum Pharmaceuticals in the 4th quarter worth approximately $24,688,000. Janus Henderson Group PLC raised its holdings in Mirum Pharmaceuticals by 34.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after acquiring an additional 704,659 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Mirum Pharmaceuticals in the 3rd quarter worth approximately $21,014,000. Finally, Cadian Capital Management LP raised its holdings in Mirum Pharmaceuticals by 34.8% in the 4th quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock worth $57,119,000 after acquiring an additional 500,000 shares during the last quarter.

Mirum Pharmaceuticals Company Profile

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.