Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stock Has Average Target Price of $137.31

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $141.19.

MIRM has been the subject of several recent analyst reports. Citizens Jmp restated a “market outperform” rating and set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. Citigroup reiterated a “market outperform” rating on shares of Mirum Pharmaceuticals in a research report on Monday. Weiss Ratings raised Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. HC Wainwright increased their target price on shares of Mirum Pharmaceuticals from $140.00 to $195.00 and gave the stock a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada reduced their price target on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th.

Mirum Pharmaceuticals Stock Down 1.9%

Shares of MIRM opened at $87.96 on Friday. Mirum Pharmaceuticals has a one year low of $63.23 and a one year high of $130.00. The company has a market cap of $5.71 billion, a P/E ratio of -6.05 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. The firm has a 50 day simple moving average of $100.33 and a two-hundred day simple moving average of $101.48.

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

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total value of $2,960,400.00. Following the completion of the transaction, the chief executive officer owned 194,440 shares of the company’s stock, valued at $19,187,339.20. This represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the sale, the chief financial officer owned 36,355 shares in the company, valued at $3,631,864.50. This represents a 14.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 126,220 shares of company stock valued at $13,181,004 in the last quarter. Insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. lifted its holdings in shares of Mirum Pharmaceuticals by 2.3% during the second quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock worth $539,000 after purchasing an additional 103 shares during the period. ABS Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals in the second quarter worth $245,847,000. Faithward Advisors LLC increased its holdings in Mirum Pharmaceuticals by 0.5% in the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock valued at $2,537,000 after purchasing an additional 126 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Mirum Pharmaceuticals in the second quarter valued at $27,000. Finally, Quantbot Technologies LP bought a new position in Mirum Pharmaceuticals during the 2nd quarter worth $44,000.

Key Mirum Pharmaceuticals News

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: The FDA approved Atebrioz (zilurgisertib) for adults and patients aged 12 and older with fibrodysplasia ossificans progressiva (FOP), an ultra-rare disorder involving abnormal bone formation. The approval was supported by PROGRESS data showing a reduction in new heterotopic ossification lesion volume, giving Mirum a new commercial product alongside partner Incyte. FDA approves Atebrioz article
• Positive Sentiment: Mirum reported that investigational brelovitug met the primary endpoint in the Phase 3 AZURE-1 study in chronic hepatitis delta (HDV). The liver-infection therapy reduced virus levels in patients, strengthening the case for a potential future regulatory filing and expanding Mirum’s growth opportunities beyond its existing liver-disease portfolio. Reuters brelovitug study article
• Positive Sentiment: HC Wainwright raised its price target on MIRM from $140 to $195 and maintained a “Buy” rating, reflecting increased confidence following the clinical and regulatory updates. HC Wainwright price target article
• Neutral Sentiment: Management is discussing the AZURE-1 topline results with investors. Investors will likely focus on the complete efficacy, safety, and regulatory details before assigning full value to brelovitug. AZURE-1 results transcript
• Neutral Sentiment: Atebrioz places Mirum and Incyte in the competitive market for treatments targeting abnormal bone formation, including products being developed by larger pharmaceutical companies. Competitive treatment article

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.