Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by equities researchers at HC Wainwright from $140.00 to $195.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 126.60% from the company’s current price.

Several other equities research analysts have also issued reports on MIRM. UBS Group set a $137.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. Citizens Jmp restated a “market outperform” rating and issued a $137.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. Morgan Stanley set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. TD Cowen decreased their price target on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.75.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock traded down $3.65 during trading hours on Monday, hitting $86.06. The stock had a trading volume of 476,568 shares, compared to its average volume of 847,109. The stock’s 50-day moving average price is $100.90 and its two-hundred day moving average price is $101.50. Mirum Pharmaceuticals has a one year low of $63.23 and a one year high of $130.00. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of -5.93 and a beta of 0.49. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The business had revenue of $176.24 million during the quarter, compared to analysts’ expectations of $166.33 million. During the same period last year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities analysts forecast that Mirum Pharmaceuticals will post -1.31 EPS for the current year.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the transaction, the chief financial officer owned 36,355 shares of the company’s stock, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the transaction, the senior vice president owned 1,274 shares in the company, valued at $127,400. This trade represents a 96.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 126,220 shares of company stock worth $13,181,004. 8.32% of the stock is owned by company insiders.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors have recently modified their holdings of MIRM. Engineers Gate Manager LP raised its holdings in shares of Mirum Pharmaceuticals by 218.2% during the second quarter. Engineers Gate Manager LP now owns 8,143 shares of the company’s stock valued at $953,000 after acquiring an additional 5,584 shares during the last quarter. Insight Wealth Partners LLC purchased a new stake in Mirum Pharmaceuticals during the 2nd quarter valued at about $395,000. Integrated Wealth Concepts LLC acquired a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at about $27,000. Arizona State Retirement System lifted its stake in Mirum Pharmaceuticals by 12.6% in the 2nd quarter. Arizona State Retirement System now owns 11,655 shares of the company’s stock worth $1,364,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Mirum Pharmaceuticals during the 2nd quarter worth approximately $247,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on liver and gastrointestinal disorders. The company’s medicines are intended to address serious conditions for which available treatment options are limited.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor approved in the United States for the treatment of cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible patients.