Mirum Pharmaceuticals (NASDAQ:MIRM) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research note released on Friday morning, Benzinga reports. They currently have a $66.00 target price on the stock.

A number of other brokerages also recently weighed in on MIRM. JMP Securities boosted 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, June 18th. Baird R W upgraded Mirum Pharmaceuticals to a strong-buy rating in a research note on Monday, June 17th. JPMorgan Chase & Co. boosted their price target on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an overweight rating in a research note on Tuesday, June 18th. Citigroup boosted their price target on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a buy rating in a research note on Tuesday, June 18th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $40.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 9th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and an average price target of $53.64.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $34.19 on Friday. The business’s 50 day moving average price is $26.62 and its two-hundred day moving average price is $27.32. The company has a market cap of $1.61 billion, a PE ratio of -9.22 and a beta of 1.10. 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 twelve month low of $23.14 and a twelve month 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 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 analyst estimates of $69.71 million. Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. On average, analysts predict that Mirum Pharmaceuticals will post -1.66 EPS for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the sale, the insider now directly owns 27,406 shares in the company, valued at $931,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the transaction, the insider now directly owns 27,406 shares in the company, valued at $931,804. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Saira Ramasastry sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The disclosure for this sale can be found here. Corporate insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AJOVista LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $40,000. Wetzel Investment Advisors Inc. acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at $41,000. StepStone Group LP acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at $135,000. China Universal Asset Management Co. Ltd. increased its holdings in Mirum Pharmaceuticals by 447.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,394 shares of the company’s stock valued at $159,000 after purchasing an additional 4,408 shares during the period. Finally, Quest Partners LLC acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at $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.