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

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have been given an average recommendation of “Buy” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $65.50.

A number of research analysts have recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a report on Tuesday, May 13th. HC Wainwright restated a “buy” rating and issued a $73.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday, May 19th. Evercore ISI restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, July 11th. JMP Securities boosted their target price 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, Wall Street Zen downgraded Mirum Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 6th.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $51.83 on Monday. Mirum Pharmaceuticals has a 1-year low of $36.20 and a 1-year high of $54.78. The company has a current ratio of 3.22, a quick ratio of 3.04 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -32.19 and a beta of 0.97. The stock’s fifty day simple moving average is $49.02 and its 200-day simple moving average is $46.64.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 33.63% and a negative net margin of 20.39%. The business had revenue of $111.59 million for the quarter, compared to the consensus estimate of $98.47 million. During the same quarter in the previous year, the company posted ($0.54) earnings per share. Mirum Pharmaceuticals’s revenue for the quarter was up 61.2% compared to the same quarter last year. On average, sell-side analysts predict that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 564 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total value of $27,213.00. Following the completion of the sale, the senior vice president owned 2,903 shares of the company’s stock, valued at $140,069.75. The trade was a 16.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Palumbo Wealth Management LLC lifted its position in shares of Mirum Pharmaceuticals by 4.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 5,604 shares of the company’s stock worth $285,000 after purchasing an additional 228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mirum Pharmaceuticals by 14.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,914 shares of the company’s stock worth $97,000 after purchasing an additional 248 shares during the last quarter. Comerica Bank lifted its position in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Mirum Pharmaceuticals by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company’s stock worth $172,000 after purchasing an additional 312 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Mirum Pharmaceuticals by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company’s stock worth $752,000 after purchasing an additional 339 shares during the last quarter.

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.