Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $123.00 at Morgan Stanley

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price increased by equities research analysts at Morgan Stanley from $95.00 to $123.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 19.85% from the stock’s previous close.

MIRM has been the topic of a number of other research reports. HC Wainwright upped their target price on shares of Mirum Pharmaceuticals from $102.00 to $130.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI reiterated an “outperform” rating and set a $101.00 price objective on shares of Mirum Pharmaceuticals in a research report on Tuesday, January 20th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Friday, December 19th. Robert W. Baird lifted their price target on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. Finally, Wall Street Zen raised shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.25.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM traded down $0.29 on Friday, reaching $102.63. The company’s stock had a trading volume of 222,060 shares, compared to its average volume of 836,007. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.16 and a current ratio of 3.31. Mirum Pharmaceuticals has a 52-week low of $36.88 and a 52-week high of $103.81. The company has a market cap of $5.27 billion, a P/E ratio of -119.32 and a beta of 0.48. The company has a 50-day simple moving average of $79.65 and a 200 day simple moving average of $71.96.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.15. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. The business had revenue of $133.01 million for the quarter, compared to the consensus estimate of $130.11 million. During the same quarter last year, the firm posted ($0.30) EPS. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities research analysts anticipate that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, Director Patrick J. Heron bought 131,425 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $68.48 per share, with a total value of $8,999,984.00. Following the completion of the transaction, the director directly owned 459,010 shares in the company, valued at $31,433,004.80. This trade represents a 40.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Peetz sold 6,831 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $96.19, for a total value of $657,073.89. Following the sale, the chief executive officer owned 169,402 shares of the company’s stock, valued at approximately $16,294,778.38. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 32,429 shares of company stock valued at $3,039,396. Insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Mirum Pharmaceuticals by 30.8% during the third quarter. CWM LLC now owns 683 shares of the company’s stock valued at $50,000 after acquiring an additional 161 shares during the period. Legal & General Group Plc raised its position in shares of Mirum Pharmaceuticals by 0.4% during the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock worth $2,189,000 after purchasing an additional 176 shares during the period. MCF Advisors LLC raised its position in Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Mirum Pharmaceuticals by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company’s stock worth $504,000 after purchasing an additional 215 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Mirum Pharmaceuticals by 34.0% during the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock worth $70,000 after purchasing an additional 243 shares during the period.

About Mirum Pharmaceuticals

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.