Analysts Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Target Price at $57.73

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) has received an average recommendation of "Buy" from the twelve brokerages that are currently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $57.73.

Several analysts have recently commented on the company. Leerink Partners raised their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a "buy" rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Finally, Citigroup raised their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th.

Mirum Pharmaceuticals Stock Performance

MIRM traded up $0.16 during trading on Friday, hitting $42.44. The stock had a trading volume of 455,977 shares, compared to its average volume of 545,743. The firm has a market capitalization of $2.04 billion, a P/E ratio of -21.01 and a beta of 1.20. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $48.89. The company's 50-day moving average price is $41.90 and its 200 day moving average price is $38.84.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. During the same period in the previous year, the business posted ($0.57) earnings per share. The business's revenue was up 89.4% compared to the same quarter last year. On average, equities research analysts forecast that Mirum Pharmaceuticals will post -1.48 EPS for the current fiscal year.

Insider Activity

In related news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.87% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new position in Mirum Pharmaceuticals in the third quarter valued at $28,913,000. Candriam S.C.A. purchased a new position in shares of Mirum Pharmaceuticals during the 2nd quarter worth about $17,384,000. Loomis Sayles & Co. L P acquired a new stake in shares of Mirum Pharmaceuticals in the third quarter worth approximately $19,473,000. Clearbridge Investments LLC grew 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 purchasing an additional 436,349 shares during the period. Finally, State Street Corp increased its position in Mirum Pharmaceuticals by 19.9% during the third quarter. State Street Corp now owns 1,793,728 shares of the company's stock worth $69,955,000 after purchasing an additional 297,511 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.