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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective lifted by HC Wainwright from $66.00 to $72.00 in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Citigroup increased 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. Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $58.20.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ:MIRM opened at $47.57 on Friday. The firm has a market cap of $2.28 billion, a PE ratio of -23.55 and a beta of 0.96. The firm’s 50 day simple moving average is $46.96 and its 200-day simple moving average is $43.37. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $54.23. 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 (NASDAQ:MIRM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $99.41 million for the quarter, compared to analysts’ expectations of $96.64 million. As a group, equities analysts predict that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other news, COO Peter Radovich sold 1,998 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $85,554.36. Following the completion of the sale, the chief operating officer now directly owns 27,015 shares in the company, valued at approximately $1,156,782.30. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Peetz sold 9,102 shares of Mirum Pharmaceuticals stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $438,898.44. Following the sale, the chief executive officer now owns 115,920 shares of the company’s stock, valued at $5,589,662.40. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,915 shares of company stock worth $1,897,920. Company insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIRM. Lord Abbett & CO. LLC purchased a new position in shares of Mirum Pharmaceuticals during the third quarter worth $28,913,000. Loomis Sayles & Co. L P purchased a new position in shares of Mirum Pharmaceuticals during the third quarter worth $19,473,000. State Street Corp raised its holdings in shares of 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. Erste Asset Management GmbH purchased a new position in shares of Mirum Pharmaceuticals during the third quarter worth $10,136,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $10,611,000.

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.