Citigroup Increases Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $64.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price boosted by equities research analysts at Citigroup from $38.00 to $64.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 118.80% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. JMP Securities increased their price target on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Tuesday. HC Wainwright increased 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. Robert W. Baird boosted their price target on shares of Mirum Pharmaceuticals from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Monday. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 9th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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 debt-to-equity ratio of 1.31, a current ratio of 3.68 and a quick ratio of 3.47. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -7.88 and a beta of 1.10. The firm has a 50-day moving average of $25.39 and a two-hundred day moving average of $27.24. Mirum Pharmaceuticals has a 1 year low of $23.14 and a 1 year high of $35.56.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced 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 firm had revenue of $69.22 million during 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%. On average, research analysts forecast that Mirum Pharmaceuticals will post -1.39 earnings per share for the current year.

Insider Transactions at Mirum Pharmaceuticals

In related news, Director Saira Ramasastry sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 value of $128,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Peter Radovich sold 4,303 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $25.80, for a total transaction of $111,017.40. Following the completion of the transaction, the chief operating officer now directly owns 29,013 shares of the company’s stock, valued at approximately $748,535.40. The disclosure for this sale can be found here. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MIRM. Avidity Partners Management LP purchased a new stake in Mirum Pharmaceuticals in the third quarter valued at $36,114,000. First Turn Management LLC purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $24,688,000. Janus Henderson Group PLC grew its holdings in Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after acquiring an additional 704,659 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $21,014,000. Finally, Cadian Capital Management LP lifted its holdings in Mirum Pharmaceuticals by 34.8% in the fourth quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock valued at $57,119,000 after acquiring an additional 500,000 shares during the period.

About Mirum Pharmaceuticals

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.