Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Up 5.9%

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares rose 5.9% during mid-day trading on Wednesday . The stock traded as high as $42.49 and last traded at $42.49. Approximately 188,046 shares traded hands during trading, a decline of 68% from the average daily volume of 595,637 shares. The stock had previously closed at $40.12.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MIRM. Citigroup increased their price objective on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Cantor Fitzgerald raised their target price on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Mirum Pharmaceuticals from $31.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Robert W. Baird raised their price objective on shares of Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, JMP Securities raised their target price on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 18th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $56.27.

Mirum Pharmaceuticals Stock Up 3.6 %

The company has a current ratio of 3.28, a quick ratio of 3.09 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -11.45 and a beta of 1.14. The business has a fifty day moving average price of $40.80 and a two-hundred day moving average price of $32.64.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative net margin of 40.34% and a negative return on equity of 43.47%. The company had revenue of $77.90 million for the quarter, compared to analyst estimates of $75.03 million. During the same period last year, the business earned ($0.92) EPS. The company’s quarterly revenue was up 107.7% on a year-over-year basis. On average, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares during the period. Arizona State Retirement System increased its holdings in Mirum Pharmaceuticals by 10.6% during the 2nd quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock valued at $315,000 after purchasing an additional 883 shares in the last quarter. Quest Partners LLC raised its position in Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after purchasing an additional 1,127 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Mirum Pharmaceuticals by 7.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,641 shares of the company’s stock worth $448,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Mirum Pharmaceuticals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock worth $439,000 after purchasing an additional 1,825 shares during the last quarter.

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.