Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $49.00 at Leerink Partners

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target increased by Leerink Partners from $47.00 to $49.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on MIRM. Evercore ISI lifted their target price on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Friday, October 11th. Robert W. Baird upped their price target on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald raised their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Buy” and a consensus target price of $56.82.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $39.32 on Thursday. The firm’s 50 day moving average is $40.63 and its 200-day moving average is $33.67. The stock has a market capitalization of $1.85 billion, a P/E ratio of -10.60 and a beta of 1.14. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.28 and a quick ratio of 3.09. Mirum Pharmaceuticals has a 12-month low of $23.14 and a 12-month high of $45.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The business had revenue of $77.90 million during the quarter, compared to analyst estimates of $75.03 million. Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The business’s revenue for the quarter was up 107.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.92) EPS. Equities research analysts anticipate that Mirum Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after buying an additional 513 shares during the last quarter. Arizona State Retirement System increased its holdings in Mirum Pharmaceuticals by 10.6% in the second quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock worth $315,000 after buying an additional 883 shares during the last quarter. Quest Partners LLC increased its holdings in Mirum Pharmaceuticals by 7,513.3% in the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after buying an additional 1,127 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Mirum Pharmaceuticals by 7.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,641 shares of the company’s stock worth $448,000 after buying an additional 1,246 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Mirum Pharmaceuticals by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock worth $439,000 after buying an additional 1,825 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.