Brokerages Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Price Target at $137.31

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $137.3125.

Several equities analysts have recently issued reports on MIRM shares. UBS Group set a $137.00 price objective on Mirum Pharmaceuticals in a research note on Thursday, August 27th. Citizens Jmp restated a “market outperform” rating and set a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Weiss Ratings raised shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Robert W. Baird set a $123.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. Finally, Wolfe Research initiated coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price target for the company.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $100.90 on Tuesday. The company has a market cap of $6.55 billion, a P/E ratio of -6.93 and a beta of 0.49. Mirum Pharmaceuticals has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. The firm’s 50 day moving average price is $108.65 and its 200 day moving average price is $101.71.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The business had revenue of $176.24 million during the quarter, compared to analysts’ expectations of $166.33 million. During the same period in the prior year, the business earned ($0.12) EPS. The business’s quarterly revenue was up 37.9% on a year-over-year basis. On average, research analysts forecast that Mirum Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the transaction, the chief financial officer owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 658 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $65,800.00. Following the completion of the sale, the senior vice president owned 616 shares in the company, valued at approximately $61,600. This represents a 51.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 128,814 shares of company stock worth $13,445,462. 8.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MIRM. ABS Investment Management LLC purchased a new stake in Mirum Pharmaceuticals during the second quarter worth approximately $245,847,000. Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals in the second quarter valued at approximately $44,000. Cullen Frost Bankers Inc. acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $32,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Mirum Pharmaceuticals during the fourth quarter worth approximately $32,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.