Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Keeps Outperform Rating at Royal Bank Of Canada

Mirum Pharmaceuticals (NASDAQ:MIRM)‘s stock had its “outperform” rating reissued by analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $155.00 target price on the stock. Royal Bank Of Canada‘s price objective points to a potential upside of 65.98% from the company’s previous close.

Several other research firms have also commented on MIRM. Weiss Ratings lowered Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 22nd. UBS Group set a $137.00 price objective on Mirum Pharmaceuticals in a research report on Thursday, August 27th. Evercore reiterated an “outperform” rating and issued a $146.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, October 13th. Wall Street Zen lowered Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, September 6th. Finally, TD Cowen boosted their target price on Mirum Pharmaceuticals from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $153.56.

Mirum Pharmaceuticals Stock Up 7.3%

Mirum Pharmaceuticals stock traded up $6.36 during trading on Wednesday, reaching $93.39. The stock had a trading volume of 332,664 shares, compared to its average volume of 834,753. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 52-week low of $63.23 and a 52-week high of $130.00. The stock has a market cap of $6.06 billion, a PE ratio of -6.41 and a beta of 0.75. The business has a 50 day moving average price of $89.53 and a 200 day moving average price of $98.42.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm had revenue of $185.72 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same period in the prior year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. On average, analysts predict that Mirum Pharmaceuticals will post -1.32 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction 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 in the company, valued at $19,187,339.20. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following the transaction, the senior vice president directly owned 1,274 shares in the company, valued at approximately $127,400. The trade was a 96.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 96,659 shares of company stock worth $9,604,100 over the last 90 days. Corporate insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in Mirum Pharmaceuticals in the second quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at approximately $42,000. Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $44,000. State of Wyoming purchased a new position in shares of Mirum Pharmaceuticals during the second quarter worth approximately $52,000. Finally, Fifth Third Bancorp purchased a new position in shares of Mirum Pharmaceuticals during the first quarter worth approximately $56,000.

Key Stories Impacting Mirum Pharmaceuticals

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

• Positive Sentiment: Three firms raised their price targets: HC Wainwright to $202 with a Buy rating, Citizens JMP to $167 with a Market Outperform rating, and Cantor Fitzgerald to $160 with an Overweight rating. The upgrades signal continued optimism about MIRM’s outlook. HC Wainwright rating Citizens JMP rating Cantor Fitzgerald rating
• Positive Sentiment: Third-quarter revenue was $185.7 million, ahead of analyst estimates of about $178.1 million and up 39.6% year over year, pointing to strong sales growth. Third-quarter results
• Neutral Sentiment: Mirum said it showcased new data across its rare liver disease portfolio at AASLD’s Liver Meeting; the supplied report does not specify the data or its potential commercial impact. AASLD portfolio update
• Negative Sentiment: The company reported a third-quarter loss of $0.87 per share, wider than analysts’ expected loss of roughly $0.49–$0.53 and a reversal from earnings of $0.05 per share a year earlier. The earnings miss could temper the positive revenue and analyst-target news. Earnings flash

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.