Stifel Nicolaus Initiates Coverage on Mirum Pharmaceuticals (NASDAQ:MIRM)

Research analysts at Stifel Nicolaus began coverage on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential upside of 100.67% from the stock’s previous close.

MIRM has been the topic of a number of other reports. JMP Securities upped their target price on shares of Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. SVB Leerink reduced their target price on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, February 29th. Raymond James cut their price objective on shares of Mirum Pharmaceuticals from $78.00 to $64.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, December 19th. Finally, HC Wainwright reissued a “buy” rating and set a $58.00 price objective on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 2nd. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $51.70.

Mirum Pharmaceuticals Trading Down 0.4 %

NASDAQ MIRM traded down $0.09 during trading on Wednesday, hitting $23.92. The company had a trading volume of 129,387 shares, compared to its average volume of 569,628. The company has a current ratio of 4.45, a quick ratio of 4.19 and a debt-to-equity ratio of 1.23. Mirum Pharmaceuticals has a one year low of $23.76 and a one year high of $35.56. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -6.07 and a beta of 1.14. The company’s fifty day moving average is $27.10 and its 200-day moving average is $28.59.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.32). The business had revenue of $69.55 million during the quarter, compared to analysts’ expectations of $66.73 million. Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. On average, sell-side analysts predict that Mirum Pharmaceuticals will post -1.12 earnings per share for the current year.

Insider Activity

In related news, CFO Eric Bjerkholt purchased 2,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $25.80 per share, with a total value of $51,600.00. Following the acquisition, the chief financial officer now directly owns 12,000 shares in the company, valued at approximately $309,600. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt acquired 2,000 shares of the stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $25.80 per share, for a total transaction of $51,600.00. Following the purchase, the chief financial officer now directly owns 12,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, COO Peter Radovich sold 4,303 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $25.80, for a total transaction of $111,017.40. Following the completion of the transaction, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The disclosure for this sale can be found here. Insiders own 24.06% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in Mirum Pharmaceuticals by 98.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 986 shares of the company’s stock worth $31,000 after buying an additional 488 shares during the period. AJOVista LLC bought a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $40,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $41,000. Royal Bank of Canada lifted its position in shares of Mirum Pharmaceuticals by 40.1% during the second quarter. Royal Bank of Canada now owns 1,851 shares of the company’s stock worth $48,000 after purchasing an additional 530 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Mirum Pharmaceuticals by 186.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,846 shares of the company’s stock worth $48,000 after purchasing an additional 1,202 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.