Mirum Pharmaceuticals (NASDAQ:MIRM) PT Raised to $39.00 at JPMorgan Chase & Co.

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by JPMorgan Chase & Co. from $31.00 to $39.00 in a report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Citigroup boosted their price target on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a buy rating in a research note on Tuesday. Cantor Fitzgerald reissued an overweight rating and issued a $40.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 9th. HC Wainwright boosted their price objective on Mirum Pharmaceuticals from $58.00 to $66.00 and gave the stock a buy rating in a research note on Monday, June 17th. Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the stock an outperform rating in a research note on Monday, June 17th. Finally, Morgan Stanley boosted their price objective on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an overweight rating in a research note on Tuesday. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $53.64.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $32.05 on Tuesday. The stock’s fifty day simple moving average is $25.64 and its 200 day simple moving average is $27.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.68 and a quick ratio of 3.47. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -8.64 and a beta of 1.10. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $35.56.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly 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). The company had revenue of $69.22 million during the quarter, compared to analyst estimates of $69.71 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. On average, analysts expect that Mirum Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Peter Radovich sold 4,303 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $25.80, for a total value of $111,017.40. Following the completion of the sale, the chief operating officer now owns 29,013 shares in the company, valued at $748,535.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of the company’s 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 disclosure for this sale can be found here. 22.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. Avidity Partners Management LP bought a new stake in shares of Mirum Pharmaceuticals in the third quarter worth about $36,114,000. First Turn Management LLC bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $24,688,000. Janus Henderson Group PLC increased its holdings in shares of Mirum Pharmaceuticals by 34.2% in the first 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 in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Mirum Pharmaceuticals in the third quarter worth about $21,014,000. Finally, Cadian Capital Management LP increased its holdings in shares of Mirum Pharmaceuticals by 34.8% in the fourth 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 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.