Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have received an average rating of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $53.64.

A number of equities analysts recently commented on MIRM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, June 17th. JMP Securities raised their price target on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, July 8th.

Insider Activity at Mirum Pharmaceuticals

In related news, insider Pamela Vig sold 30,559 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares of the company’s stock, valued at approximately $931,804. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares in the company, valued at $931,804. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,934 shares of company stock valued at $1,180,156. 22.87% of the stock is owned by 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 bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $24,688,000. Janus Henderson Group PLC grew its holdings 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 acquiring an additional 704,659 shares during the last quarter. Cadian Capital Management LP grew 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 acquiring an additional 500,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after acquiring an additional 432,824 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Mirum Pharmaceuticals by 1,533.9% during the 4th quarter. Clearbridge Investments LLC now owns 264,097 shares of the company’s stock worth $7,796,000 after acquiring an additional 247,933 shares during the last quarter.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $39.07 on Thursday. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $40.75. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -10.53 and a beta of 1.15. The firm’s 50-day simple moving average is $30.98 and its 200 day simple moving average is $28.08. 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 released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.54) 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 the consensus estimate of $69.71 million. As a group, sell-side analysts predict that Mirum Pharmaceuticals will post -1.66 earnings per share for the current year.

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.