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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by Citigroup from $65.00 to $68.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on MIRM. Evercore ISI upped their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird increased their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald lifted 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. HC Wainwright reiterated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Finally, Leerink Partners raised their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 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. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals Stock Down 3.8 %

Shares of MIRM opened at $44.50 on Wednesday. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $48.89. The stock’s fifty day moving average is $40.12 and its 200-day moving average is $36.07. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.09.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. During the same period in the prior year, the business posted ($0.57) EPS. The business’s revenue for the quarter was up 89.4% compared to the same quarter last year. Analysts forecast that Mirum Pharmaceuticals will post -1.51 EPS for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. This represents a 50.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its position in Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after purchasing an additional 704,659 shares during the last quarter. Candriam S.C.A. acquired a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $17,384,000. Loomis Sayles & Co. L P bought a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $19,473,000. Clearbridge Investments LLC increased its holdings in Mirum Pharmaceuticals by 165.5% in the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after buying an additional 436,349 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after acquiring an additional 432,824 shares in 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.