Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives Average Recommendation of “Buy” from Analysts

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have been assigned a consensus recommendation of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $57.73.

Several research firms have issued reports on MIRM. Leerink Partners lifted their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Citigroup raised their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC purchased a new position in shares of Mirum Pharmaceuticals during the third quarter valued at $28,913,000. Candriam S.C.A. purchased a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at $17,384,000. Loomis Sayles & Co. L P purchased a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $19,473,000. Clearbridge Investments LLC grew its position in Mirum Pharmaceuticals by 165.5% during the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after purchasing an additional 436,349 shares during the period. Finally, State Street Corp raised 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 valued at $69,955,000 after acquiring an additional 297,511 shares in the last quarter.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $42.44 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -21.01 and a beta of 1.20. The business has a 50 day simple moving average of $41.90 and a 200 day simple moving average of $38.74. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week high of $48.89.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. The company had revenue of $90.38 million during the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm’s revenue was up 89.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. Analysts anticipate that Mirum Pharmaceuticals will post -1.48 earnings per share for the current fiscal year.

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.