Mirum Pharmaceuticals (NASDAQ:MIRM) Given a $89.00 Price Target at Stifel Nicolaus

Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals (NASDAQ:MIRM) in a report issued on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on MIRM. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Mirum Pharmaceuticals in a report on Thursday. JMP Securities set a $81.00 target price on shares of Mirum Pharmaceuticals and gave the company a “market outperform” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Mirum Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI upped their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an “outperform” rating in a report on Friday. Finally, HC Wainwright upped their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $74.13.

Mirum Pharmaceuticals Trading Up 9.8%

Shares of NASDAQ:MIRM opened at $65.87 on Monday. The company’s 50-day moving average price is $51.26 and its two-hundred day moving average price is $47.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. Mirum Pharmaceuticals has a one year low of $36.86 and a one year high of $66.40. The stock has a market capitalization of $3.31 billion, a PE ratio of -54.44 and a beta of 0.94.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The firm had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $107.91 million. During the same period in the previous year, the firm posted ($0.52) EPS. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. On average, equities analysts forecast that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Activity

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 10,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the transaction, the senior vice president directly owned 2,426 shares of the company’s stock, valued at $140,708. This represents a 80.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Peetz sold 40,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.25, for a total transaction of $2,210,000.00. Following the completion of the transaction, the chief executive officer directly owned 138,641 shares in the company, valued at approximately $7,659,915.25. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,041 shares of company stock worth $2,840,624. Insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Mirum Pharmaceuticals by 16.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,022 shares of the company’s stock worth $510,000 after acquiring an additional 1,452 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mirum Pharmaceuticals by 6.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,029,616 shares of the company’s stock worth $52,405,000 after acquiring an additional 65,951 shares in the last quarter. Nan Fung Trinity HK Ltd. acquired a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter worth approximately $7,469,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Mirum Pharmaceuticals by 18.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 423,744 shares of the company’s stock worth $21,564,000 after acquiring an additional 67,468 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter worth approximately $435,000.

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.