HC Wainwright Reiterates “Buy” Rating for Mirum Pharmaceuticals (NASDAQ:MIRM)

HC Wainwright reaffirmed their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a report released on Friday morning, Benzinga reports. HC Wainwright currently has a $66.00 target price on the stock.

A number of other equities analysts have also commented on MIRM. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the stock an outperform rating in a research note on Monday, June 17th. JPMorgan Chase & Co. raised their price target on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the stock an overweight rating in a research report on Tuesday, June 18th. Citigroup boosted their price target on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a buy rating in a research note on Tuesday, June 18th. JMP Securities increased their price objective on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a market outperform rating in a research note on Tuesday, June 18th. Finally, Morgan Stanley boosted their target price on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an overweight rating in a research report on Tuesday, June 18th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $53.64.

Mirum Pharmaceuticals Trading Down 3.0 %

MIRM stock opened at $42.05 on Friday. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $44.70. The company has a market capitalization of $1.98 billion, a PE ratio of -11.33 and a beta of 1.15. The company’s 50-day simple moving average is $32.01 and its 200 day simple moving average is $28.39. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.47 and a current ratio of 3.68.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, May 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. The business had revenue of $69.22 million for the quarter, compared to analyst estimates of $69.71 million. As a group, sell-side analysts anticipate that Mirum Pharmaceuticals will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total value of $1,039,006.00. Following the sale, the insider now owns 27,406 shares in the company, valued at $931,804. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $34.00, for a total value of $1,039,006.00. Following the completion of the transaction, the insider now owns 27,406 shares of the company’s stock, valued at approximately $931,804. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The disclosure for this sale can be found here. Insiders sold a total of 35,934 shares of company stock worth $1,180,156 in the last three months. 22.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in MIRM. First Turn Management LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $24,688,000. Janus Henderson Group PLC raised its position in Mirum Pharmaceuticals by 34.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after purchasing an additional 704,659 shares during the last quarter. Cadian Capital Management LP lifted its holdings in Mirum Pharmaceuticals by 34.8% during the 4th quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock worth $57,119,000 after buying an additional 500,000 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after buying an additional 432,824 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Mirum Pharmaceuticals by 1,533.9% in the fourth quarter. Clearbridge Investments LLC now owns 264,097 shares of the company’s stock valued at $7,796,000 after buying an additional 247,933 shares during the period.

About Mirum Pharmaceuticals

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.