Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $139.80.

A number of brokerages have issued reports on MIRM. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. TD Cowen raised their price objective on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. CLSA set a $146.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday. Finally, Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $102.04 on Thursday. Mirum Pharmaceuticals has a 1 year low of $47.89 and a 1 year high of $114.99. The firm’s 50 day moving average is $98.29 and its 200-day moving average is $91.88. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -7.50 and a beta of 0.50. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28.

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

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the sale, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $18,622,574.56. This trade represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, June 8th. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00. Following the transaction, the chief financial officer directly owned 44,788 shares in the company, valued at approximately $4,202,010.16. This represents a 10.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in MIRM. Comerica Bank boosted its position in shares of Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Mirum Pharmaceuticals by 307.3% during the first quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock worth $2,211,000 after purchasing an additional 37,028 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mirum Pharmaceuticals by 7.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock worth $1,176,000 after purchasing an additional 1,720 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Mirum Pharmaceuticals during the first quarter worth $217,000. Finally, Empowered Funds LLC boosted its position in shares of Mirum Pharmaceuticals by 15.4% during the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after purchasing an additional 5,120 shares in the last quarter.

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.