Raymond James Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price lifted by Raymond James from $73.00 to $77.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

Several other research firms also recently commented on MIRM. Robert W. Baird upped their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. JMP Securities boosted their price target on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a “market outperform” rating in a research note on Friday, May 9th. Finally, HC Wainwright boosted their price target on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.64.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $45.28 on Tuesday. Mirum Pharmaceuticals has a 12 month low of $23.83 and a 12 month high of $54.23. The stock’s 50 day moving average is $42.94 and its 200-day moving average is $44.39. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -22.42 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $111.59 million for the quarter, compared to the consensus estimate of $98.47 million. During the same quarter in the prior year, the business earned ($0.54) earnings per share. The firm’s revenue for the quarter was up 61.2% on a year-over-year basis. Equities research analysts expect that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 27,279 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $1,206,004.59. Following the completion of the sale, the chief executive officer now directly owns 138,641 shares in the company, valued at $6,129,318.61. This represents a 16.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jolanda Howe sold 57,606 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the transaction, the senior vice president now owns 4,841 shares of the company’s stock, valued at $214,698.35. This trade represents a 92.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,764 shares of company stock worth $4,109,161. Company insiders own 14.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company’s stock valued at $27,000 after purchasing an additional 428 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Mirum Pharmaceuticals by 100.0% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock worth $30,000 after purchasing an additional 357 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth about $35,000. Comerica Bank lifted its position in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in Mirum Pharmaceuticals in the 4th quarter valued at about $42,000.

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.