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

HC Wainwright reiterated their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $66.00 price target on the stock.

A number of other research firms also recently commented on MIRM. Evercore ISI raised their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Baird R W raised shares of Mirum Pharmaceuticals to a strong-buy rating in a research report on Monday, June 17th. Morgan Stanley increased their price objective on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an overweight rating in a research report on Tuesday, June 18th. JMP Securities raised their target price on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a market outperform rating in a research note on Tuesday, June 18th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $48.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, June 17th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $56.27.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $40.11 on Friday. Mirum Pharmaceuticals has a 1 year low of $23.14 and a 1 year high of $45.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28. The firm has a 50 day moving average price of $40.59 and a 200 day moving average price of $33.38. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -17.52 and a beta of 1.14.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $249,000. Clearbridge Investments LLC raised its holdings in Mirum Pharmaceuticals by 165.5% in the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after acquiring an additional 436,349 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Mirum Pharmaceuticals by 63.4% during the 2nd quarter. Squarepoint Ops LLC now owns 67,421 shares of the company’s stock valued at $2,305,000 after acquiring an additional 26,154 shares during the last quarter. Marshall Wace LLP grew its holdings in Mirum Pharmaceuticals by 35.9% during the 2nd quarter. Marshall Wace LLP now owns 20,520 shares of the company’s stock worth $702,000 after acquiring an additional 5,420 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth about $213,000.

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.