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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective upped by Citigroup from $65.00 to $68.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also commented on MIRM. Robert W. Baird raised their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald raised their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Evercore ISI upped their price target 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 research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $57.73.

Mirum Pharmaceuticals Stock Performance

MIRM traded up $1.35 on Wednesday, hitting $45.27. 65,083 shares of the company’s stock were exchanged, compared to its average volume of 555,885. 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 stock has a fifty day moving average of $39.96 and a two-hundred day moving average of $35.79. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $45.81. The firm has a market cap of $2.16 billion, a PE ratio of -21.74 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced 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. The company 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 40.98% and a negative net margin of 31.69%. The firm’s quarterly revenue was up 89.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.57) EPS. On average, research analysts anticipate that Mirum Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC raised 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 acquiring an additional 1,127 shares in the last quarter. Amalgamated Bank grew 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 worth $46,000 after purchasing an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after buying an additional 318 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Mirum Pharmaceuticals during the second quarter valued at $213,000. Finally, Creative Planning bought a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at about $249,000.

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.