Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $125.00 at Stifel Nicolaus

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective raised by Stifel Nicolaus from $98.00 to $125.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 31.62% from the stock’s previous close.

MIRM has been the topic of several other reports. Evercore reissued an “outperform” rating and set a $101.00 target price on shares of Mirum Pharmaceuticals in a research note on Tuesday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, December 8th. Morgan Stanley raised their price objective on Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday, January 12th. Finally, Citigroup reissued an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.75.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock traded down $13.65 during mid-day trading on Thursday, hitting $94.97. The company had a trading volume of 253,699 shares, compared to its average volume of 738,796. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of -110.43 and a beta of 0.49. Mirum Pharmaceuticals has a 12-month low of $36.88 and a 12-month high of $109.28. The company’s fifty day moving average is $92.67 and its 200-day moving average is $78.81. 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 Wednesday, February 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. The firm had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. Equities research analysts predict that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other news, COO Peter Radovich sold 3,143 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $96.19, for a total value of $302,325.17. Following the sale, the chief operating officer directly owned 23,286 shares of the company’s stock, valued at $2,239,880.34. The trade was a 11.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eric Bjerkholt sold 1,421 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $93.33, for a total value of $132,621.93. Following the sale, the chief financial officer owned 42,127 shares of the company’s stock, valued at $3,931,712.91. The trade was a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 45,136 shares of company stock valued at $4,352,029. 14.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of MIRM. Cullen Frost Bankers Inc. purchased a new stake in Mirum Pharmaceuticals during the 4th quarter valued at about $30,000. MCF Advisors LLC lifted its stake in Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $32,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $32,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $33,000.

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.