Mirum Pharmaceuticals (NASDAQ:MIRM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Mirum Pharmaceuticals (NASDAQ:MIRM) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

A number of other equities analysts have also weighed in on the company. Cowen restated a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday, January 12th. JMP Securities set a $95.00 price objective on Mirum Pharmaceuticals in a report on Wednesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday, December 8th. HC Wainwright reissued a “buy” rating and issued a $102.00 price target (up previously from $81.00) on shares of Mirum Pharmaceuticals in a research note on Tuesday, January 13th. Finally, Citigroup reissued an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $102.00.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $91.05 on Friday. The company has a 50 day moving average of $75.47 and a 200 day moving average of $69.70. The stock has a market cap of $4.68 billion, a P/E ratio of -105.87 and a beta of 0.48. Mirum Pharmaceuticals has a 12 month low of $36.88 and a 12 month high of $93.70. The company has a current ratio of 3.31, a quick ratio of 3.16 and a debt-to-equity ratio of 1.06.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.15. The business had revenue of $133.01 million for the quarter, compared to analysts’ expectations of $130.11 million. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.30) EPS. As a group, sell-side analysts forecast that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in Mirum Pharmaceuticals by 566.8% in the 3rd quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock worth $57,965,000 after purchasing an additional 672,118 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Mirum Pharmaceuticals by 709.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock valued at $44,889,000 after buying an additional 536,674 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 2,116.6% in the third quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock worth $28,560,000 after buying an additional 371,999 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Mirum Pharmaceuticals in the third quarter worth about $23,250,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at about $22,965,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.