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

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) have earned an average rating of "Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $57.73.

MIRM has been the topic of several research reports. Evercore ISI upped their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Leerink Partners boosted their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. HC Wainwright reaffirmed a "buy" rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Cantor Fitzgerald boosted their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Finally, Citigroup raised their target price on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares of the company's stock, valued at $114,264.60. This represents a 50.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 22.87% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mirum Pharmaceuticals by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company's stock valued at $67,000 after acquiring an additional 318 shares during the period. Amalgamated Bank raised its position in Mirum Pharmaceuticals by 60.8% during the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company's stock worth $46,000 after purchasing an additional 513 shares during the last quarter. Arizona State Retirement System lifted its holdings in Mirum Pharmaceuticals by 10.6% in the second quarter. Arizona State Retirement System now owns 9,210 shares of the company's stock valued at $315,000 after buying an additional 883 shares during the period. Quest Partners LLC grew its stake in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company's stock worth $39,000 after purchasing an additional 1,127 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Mirum Pharmaceuticals by 11.7% in 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 in the last quarter.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM traded up $1.60 during trading hours on Wednesday, reaching $43.69. 450,893 shares of the company traded hands, compared to its average volume of 558,714. The stock's fifty day moving average is $40.17 and its 200 day moving average is $36.42. 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 1-year low of $23.14 and a 1-year high of $48.89. The stock has a market cap of $2.10 billion, a P/E ratio of -21.63 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $90.38 million for the quarter, compared to analysts' expectations of $81.99 million. During the same period in the prior year, the business posted ($0.57) earnings per share. The business's revenue was up 89.4% compared to the same quarter last year. Equities research analysts anticipate that Mirum Pharmaceuticals will post -1.51 earnings per share for the current fiscal year.

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.