Citigroup Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective hoisted by Citigroup from $65.00 to $68.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on MIRM. HC Wainwright restated a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research note on Friday, October 11th. Robert W. Baird upped their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Cantor Fitzgerald lifted their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Leerink Partners boosted their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Evercore ISI raised their target price on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $57.73.

Mirum Pharmaceuticals Stock Down 3.8 %

Shares of MIRM opened at $44.50 on Wednesday. The company has a current ratio of 3.34, a quick ratio of 3.09 and a debt-to-equity ratio of 1.33. The firm has a market cap of $2.14 billion, a P/E ratio of -22.03 and a beta of 1.16. The company’s 50-day moving average price is $40.12 and its 200 day moving average price is $36.00. Mirum Pharmaceuticals has a 12-month low of $23.14 and a 12-month high of $48.89.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. The business had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company’s quarterly revenue was up 89.4% on a year-over-year basis. During the same period last year, the business posted ($0.57) earnings per share. On average, sell-side analysts forecast that Mirum Pharmaceuticals will post -1.81 earnings per share for the current year.

Insider Transactions at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. This represents a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after buying an additional 432,824 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Mirum Pharmaceuticals by 64.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after acquiring an additional 63,871 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in Mirum Pharmaceuticals by 6.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company’s stock worth $7,854,000 after acquiring an additional 14,843 shares during the period. Candriam S.C.A. purchased a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $17,384,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Mirum Pharmaceuticals by 64.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company’s stock valued at $3,582,000 after purchasing an additional 41,236 shares during the period.

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.