Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $125.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by TD Cowen from $117.00 to $125.00 in a report released on Friday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other brokerages have also weighed in on MIRM. Robert W. Baird lifted their target price on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Evercore set a $126.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, March 4th. Wall Street Zen downgraded Mirum Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 28th. Stifel Nicolaus upped their price objective on Mirum Pharmaceuticals from $98.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $110.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.67.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM opened at $88.44 on Friday. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of -184.25 and a beta of 0.52. Mirum Pharmaceuticals has a one year low of $36.88 and a one year high of $109.28. The business has a fifty day simple moving average of $96.36 and a 200 day simple moving average of $81.80. The company has a current ratio of 2.67, a quick ratio of 2.55 and a debt-to-equity ratio of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The business had revenue of $148.93 million for the quarter, compared to analyst estimates of $141.78 million. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. Sell-side analysts expect that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Joanne Quan sold 7,287 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the transaction, the insider owned 18,864 shares in the company, valued at $1,735,110.72. This represents a 27.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Peetz sold 40,985 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the sale, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $17,872,541.82. This represents a 17.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 121,942 shares of company stock valued at $11,416,645. Insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIRM. Rockefeller Capital Management L.P. raised its stake in shares of Mirum Pharmaceuticals by 221.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,682 shares of the company’s stock worth $133,000 after acquiring an additional 1,158 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Mirum Pharmaceuticals by 425.2% during the fourth quarter. Mackenzie Financial Corp now owns 19,889 shares of the company’s stock valued at $1,565,000 after purchasing an additional 16,102 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $3,179,000. Zacks Investment Management acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $2,401,000. Finally, Vestal Point Capital LP acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $5,213,000.

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.