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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target hoisted by HC Wainwright from $200.00 to $202.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright‘s price objective would indicate a potential upside of 132.10% from the company’s previous close.

MIRM has been the subject of a number of other reports. Morgan Stanley lifted their target price on shares of Mirum Pharmaceuticals from $137.00 to $152.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Evercore reaffirmed an “outperform” rating and issued a $146.00 price target on shares of Mirum Pharmaceuticals in a report on Tuesday, October 13th. Citigroup lifted their price objective on shares of Mirum Pharmaceuticals from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. Finally, TD Cowen boosted their price objective on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $150.19.

Mirum Pharmaceuticals Stock Up 1.5%

Mirum Pharmaceuticals stock opened at $87.03 on Wednesday. The stock has a 50-day moving average of $89.53 and a two-hundred day moving average of $98.42. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a one year low of $63.23 and a one year high of $130.00.

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

Insider Buying and Selling

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 658 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total transaction of $65,800.00. Following the completion of the transaction, the senior vice president directly owned 616 shares of the company’s stock, valued at approximately $61,600. This trade represents a 51.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the transaction, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at $19,187,339.20. This represents a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 96,659 shares of company stock valued at $9,604,100 over the last quarter. 8.32% of the stock is currently owned by company insiders.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jupiter Topco LLC purchased a new position in shares of Mirum Pharmaceuticals during the second quarter worth $691,672,000. BlackRock Inc. acquired a new position in Mirum Pharmaceuticals during the second quarter valued at $513,945,000. William Blair Investment Management LLC acquired a new stake in Mirum Pharmaceuticals during the 2nd quarter worth about $164,453,000. Janus Henderson Group PLC grew its position in Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock worth $641,764,000 after purchasing an additional 880,505 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Mirum Pharmaceuticals during the 2nd quarter worth about $78,434,000.

About Mirum Pharmaceuticals

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.