Cantor Fitzgerald Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target increased by equities researchers at Cantor Fitzgerald from $155.00 to $160.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price points to a potential upside of 83.84% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright raised their price objective on shares of Mirum Pharmaceuticals from $200.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group set a $137.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. Citigroup raised their price target on Mirum Pharmaceuticals from $160.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Morgan Stanley lifted their price objective on Mirum Pharmaceuticals from $137.00 to $152.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, Royal Bank Of Canada increased their target price on Mirum Pharmaceuticals from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $150.19.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $87.03 on Wednesday. The business’s 50-day simple moving average is $89.53 and its 200 day simple moving average is $98.42. 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 stock has a market cap of $5.65 billion, a price-to-earnings ratio of -5.98 and a beta of 0.75. Mirum Pharmaceuticals has a 12-month low of $63.23 and a 12-month high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%. The firm had revenue of $185.72 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. As a group, research analysts anticipate that Mirum Pharmaceuticals will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 658 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $100.00, for a total transaction of $65,800.00. Following the transaction, the senior vice president directly owned 616 shares in the company, valued at approximately $61,600. The trade was a 51.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total value of $2,960,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at approximately $19,187,339.20. The trade was a 13.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 96,659 shares of company stock valued at $9,604,100. 8.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in Mirum Pharmaceuticals by 14.5% in the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after buying an additional 880,505 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $691,672,000. BlackRock Inc. bought a new stake in shares of Mirum Pharmaceuticals during the second quarter worth $513,945,000. William Blair Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter worth $164,453,000. Finally, Rock Springs Capital Management LP increased its position in shares of Mirum Pharmaceuticals by 6.4% during the first quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company’s stock worth $74,947,000 after acquiring an additional 49,000 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.