Mirum Pharmaceuticals (NASDAQ:MIRM) Given New $150.00 Price Target at Morgan Stanley

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by equities researchers at Morgan Stanley from $140.00 to $150.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 59.57% from the stock’s current price.

Several other equities analysts have also commented on MIRM. Citigroup initiated coverage on Mirum Pharmaceuticals in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $145.00 price target on the stock. Robert W. Baird upped their price target on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $136.00 price target on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Royal Bank Of Canada upped their price target on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.36.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $94.00 on Thursday. The stock’s fifty day moving average is $97.65 and its two-hundred day moving average is $90.87. The firm has a market capitalization of $5.73 billion, a P/E ratio of -6.91 and a beta of 0.50. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. Mirum Pharmaceuticals has a fifty-two week low of $47.79 and a fifty-two week high of $114.99.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The business had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. During the same period last year, the company earned ($0.30) EPS. The business’s revenue for the quarter was up 43.3% on a year-over-year basis. On average, research analysts anticipate that Mirum Pharmaceuticals will post -2.01 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 4,732 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $435,249.36. Following the sale, the senior vice president owned 8,429 shares in the company, valued at $775,299.42. This represents a 35.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Peter Radovich sold 16,515 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $1,519,049.70. Following the sale, the chief operating officer owned 40,272 shares in the company, valued at approximately $3,704,218.56. This trade represents a 29.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,806 shares of company stock worth $10,408,916 over the last quarter. 8.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Mirum Pharmaceuticals during the 4th quarter worth about $1,478,000. TimesSquare Capital Management LLC purchased a new stake in Mirum Pharmaceuticals during the 3rd quarter worth about $22,041,000. TD Asset Management Inc purchased a new stake in Mirum Pharmaceuticals during the 3rd quarter worth about $1,129,000. Baader Bank Aktiengesellschaft purchased a new stake in Mirum Pharmaceuticals during the 3rd quarter worth about $503,000. Finally, Nan Fung Trinity HK Ltd. increased its holdings in shares of Mirum Pharmaceuticals by 45.6% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 227,479 shares of the company’s stock valued at $17,969,000 after acquiring an additional 71,214 shares during the last quarter.

Mirum Pharmaceuticals Company Profile

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.