Mirum Pharmaceuticals (NASDAQ:MIRM) Coverage Initiated by Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research report released on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $130.00 target price on the stock.

Several other analysts have also weighed in on MIRM. Weiss Ratings restated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Thursday, January 22nd. 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. Citizens Jmp raised their price objective on shares of Mirum Pharmaceuticals from $95.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Friday, December 19th. Leerink Partners set a $100.00 price target on Mirum Pharmaceuticals in a report on Wednesday, December 10th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, January 12th. One investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.17.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $105.32 on Tuesday. The company has a current ratio of 3.31, a quick ratio of 3.16 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average price of $88.64 and a 200 day moving average price of $77.02. Mirum Pharmaceuticals has a 12-month low of $36.88 and a 12-month high of $107.41. The stock has a market capitalization of $5.41 billion, a P/E ratio of -121.67 and a beta of 0.49.

Insider Activity at Mirum Pharmaceuticals

In other news, COO Peter Radovich sold 3,143 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $96.19, for a total value of $302,325.17. Following the transaction, the chief operating officer directly owned 23,286 shares of the company’s stock, valued at approximately $2,239,880.34. This trade represents a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Eric Bjerkholt sold 1,421 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $93.33, for a total value of $132,621.93. Following the completion of the transaction, the chief financial officer owned 42,127 shares of the company’s stock, valued at $3,931,712.91. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,136 shares of company stock valued at $4,352,029 over the last ninety days. Corporate insiders own 14.36% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in Mirum Pharmaceuticals in the 4th quarter valued at $30,000. MCF Advisors LLC boosted its position in Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth $32,000. CIBC Private Wealth Group LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $32,000. Finally, Quantbot Technologies LP purchased a new stake in Mirum Pharmaceuticals during the 3rd quarter worth about $33,000.

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.