HC Wainwright Reiterates “Buy” Rating for Mirum Pharmaceuticals (NASDAQ:MIRM)

Mirum Pharmaceuticals (NASDAQ:MIRM)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $66.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 96.08% from the company’s current price.

A number of other brokerages also recently weighed in on MIRM. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 9th. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Baird R W raised Mirum Pharmaceuticals to a “strong-buy” rating in a report on Monday, June 17th. Morgan Stanley lifted their price objective on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Mirum Pharmaceuticals in a report on Monday, June 17th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and an average target price of $53.64.

Mirum Pharmaceuticals Trading Up 1.7 %

Shares of MIRM stock traded up $0.55 on Friday, reaching $33.66. 232,092 shares of the company’s stock were exchanged, compared to its average volume of 607,827. The company has a current ratio of 3.68, a quick ratio of 3.47 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $26.23 and its 200 day simple moving average is $27.26. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $35.56. The stock has a market capitalization of $1.59 billion, a PE ratio of -9.04 and a beta of 1.10.

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

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the stock in a transaction dated 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 sale, the insider now owns 27,406 shares of the company’s stock, valued at approximately $931,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction that occurred on 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 SEC, which is available through this link. Also, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the sale, the insider now owns 27,406 shares of the company’s stock, valued at approximately $931,804. The disclosure for this sale can be found here. 22.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Mirum Pharmaceuticals by 210.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 224,571 shares of the company’s stock valued at $7,096,000 after purchasing an additional 152,287 shares in the last quarter. Federated Hermes Inc. grew its holdings in Mirum Pharmaceuticals by 71.2% in the 3rd quarter. Federated Hermes Inc. now owns 20,544 shares of the company’s stock valued at $649,000 after buying an additional 8,544 shares during the period. Ardsley Advisory Partners LP acquired a new position in Mirum Pharmaceuticals during the third quarter worth approximately $3,160,000. Adage Capital Partners GP L.L.C. purchased a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $21,014,000. Finally, Polar Capital Holdings Plc lifted its stake in shares of Mirum Pharmaceuticals by 27.0% during the third quarter. Polar Capital Holdings Plc now owns 1,175,000 shares of the company’s stock worth $37,130,000 after purchasing an additional 250,000 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.