Mirum Pharmaceuticals (NASDAQ:MIRM) Rating Increased to Strong-Buy at TD Cowen

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

MIRM has been the subject of a number of other reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 25th. Cowen assumed coverage on shares of Mirum Pharmaceuticals in a research report on Wednesday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $76.50.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $73.57 on Thursday. The company has a market capitalization of $3.70 billion, a P/E ratio of -60.80 and a beta of 0.92. Mirum Pharmaceuticals has a twelve month low of $36.88 and a twelve month high of $78.10. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average price of $66.10 and a two-hundred day moving average price of $52.65.

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

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Laura Brege sold 17,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $74.40, for a total transaction of $1,264,800.00. Following the completion of the sale, the director owned 15,703 shares in the company, valued at $1,168,303.20. The trade was a 51.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Peetz sold 40,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the transaction, the chief executive officer owned 138,641 shares of the company’s stock, valued at $8,595,742. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,619 shares of company stock worth $7,313,448 in the last ninety days. 14.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in Mirum Pharmaceuticals by 259.4% during 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 last quarter. Comerica Bank grew its stake in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Mirum Pharmaceuticals by 46.5% in the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock worth $56,000 after acquiring an additional 351 shares during the last quarter. Quarry LP acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter worth $56,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mirum Pharmaceuticals by 14.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,914 shares of the company’s stock worth $97,000 after acquiring an additional 248 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.