JPMorgan Chase & Co. Increases Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $39.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target upped by JPMorgan Chase & Co. from $31.00 to $39.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus restated a buy rating and issued a $48.00 target price on shares of Mirum Pharmaceuticals in a report on Monday. Citigroup raised their target price on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a buy rating in a report on Tuesday. HC Wainwright raised their target price on shares of Mirum Pharmaceuticals from $58.00 to $66.00 and gave the stock a buy rating in a report on Monday. Morgan Stanley raised their target price on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an overweight rating in a report on Tuesday. Finally, Cantor Fitzgerald restated an overweight rating and issued a $40.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and an average target price of $53.64.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $29.25 on Tuesday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -7.88 and a beta of 1.10. The firm’s fifty day moving average is $25.32 and its 200 day moving average is $27.23. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week high of $35.56.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). The business had revenue of $69.22 million for the quarter, compared to analysts’ expectations of $69.71 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. Sell-side analysts forecast that Mirum Pharmaceuticals will post -1.39 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average price of $24.80 per share, with a total value of $49,600.00. Following the transaction, the chief financial officer now directly owns 14,000 shares in the company, valued at $347,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric Bjerkholt acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were acquired at an average price of $24.80 per share, with a total value of $49,600.00. Following the completion of the purchase, the chief financial officer now owns 14,000 shares in the company, valued at approximately $347,200. The disclosure for this purchase can be found here. 22.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several large investors have recently made changes to their positions in the company. AJOVista LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth $40,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $41,000. StepStone Group LP purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $135,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mirum Pharmaceuticals by 447.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,394 shares of the company’s stock worth $159,000 after buying an additional 4,408 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $194,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.