Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Lowered to $51.00 at HC Wainwright

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price trimmed by HC Wainwright from $52.00 to $51.00 in a research report released on Tuesday, Analyst Ratings Network reports. The brokerage currently has a buy rating on the stock.

MIRM has been the topic of several other research reports. Raymond James lowered their target price on Mirum Pharmaceuticals from $52.00 to $51.00 and set a strong-buy rating on the stock in a report on Tuesday. Zacks Investment Research raised Mirum Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, August 10th. Finally, SVB Leerink lowered their target price on Mirum Pharmaceuticals from $33.00 to $32.00 and set an outperform rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals currently has an average rating of Buy and an average target price of $37.20.

Shares of MIRM stock opened at $17.82 on Tuesday. The business’s fifty day moving average price is $15.63 and its 200 day moving average price is $17.23. Mirum Pharmaceuticals has a 1-year low of $13.85 and a 1-year high of $26.31. The firm has a market capitalization of $543.80 million, a PE ratio of -3.29 and a beta of 2.30.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Thursday, August 5th. The company reported ($1.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($1.04). On average, equities research analysts anticipate that Mirum Pharmaceuticals will post -5.22 earnings per share for the current year.

In other news, major shareholder James E. Flynn sold 49,239 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, July 6th. The shares were sold at an average price of $16.20, for a total transaction of $797,671.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James E. Flynn sold 99,325 shares of Mirum Pharmaceuticals stock in a transaction dated Friday, July 9th. The stock was sold at an average price of $15.81, for a total transaction of $1,570,328.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,163 shares of company stock valued at $2,548,289. Insiders own 62.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MIRM. Los Angeles Capital Management LLC purchased a new stake in Mirum Pharmaceuticals in the first quarter valued at approximately $382,000. Alps Advisors Inc. grew its holdings in Mirum Pharmaceuticals by 19.9% in the first quarter. Alps Advisors Inc. now owns 55,031 shares of the company’s stock valued at $1,091,000 after purchasing an additional 9,121 shares during the period. BlackRock Inc. grew its holdings in Mirum Pharmaceuticals by 37.1% in the first quarter. BlackRock Inc. now owns 760,839 shares of the company’s stock valued at $15,078,000 after purchasing an additional 205,950 shares during the period. GSA Capital Partners LLP grew its holdings in Mirum Pharmaceuticals by 60.6% in the first quarter. GSA Capital Partners LLP now owns 34,859 shares of the company’s stock valued at $691,000 after purchasing an additional 13,150 shares during the period. Finally, Pinnacle Advisory Group Inc. purchased a new stake in Mirum Pharmaceuticals during the first quarter worth approximately $198,000. Hedge funds and other institutional investors own 76.74% of the company’s stock.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company. The firm focuses on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Its product candidates include Maralixibat and Volixibat. The company was founded by Niall O’Donnel, Michael Grey and Christopher Peetz on May 7, 2018 and is headquartered in Foster City, CA.

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