Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective upped by research analysts at JPMorgan Chase & Co. from $115.00 to $125.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 0.84% from the company’s current price.

Several other research analysts also recently commented on MIRM. Evercore reaffirmed an “outperform” rating and set a $138.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Citizens Jmp raised their price target on shares of Mirum Pharmaceuticals from $140.00 to $146.00 and gave the stock a “market outperform” rating in a report on Monday, June 15th. TD Cowen increased their price objective on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $143.00.

Mirum Pharmaceuticals Trading Up 2.9%

Shares of MIRM stock traded up $3.50 during mid-day trading on Thursday, reaching $123.95. 90,683 shares of the stock traded hands, compared to its average volume of 931,523. The stock’s fifty day simple moving average is $101.93 and its two-hundred day simple moving average is $95.13. Mirum Pharmaceuticals has a 1-year low of $49.01 and a 1-year high of $125.50. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The company has a market cap of $7.56 billion, a price-to-earnings ratio of -9.08 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data 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). The business had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The firm’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) EPS. On average, research analysts anticipate that Mirum Pharmaceuticals will post -2.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 2,594 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $101.95, for a total value of $264,458.30. Following the completion of the transaction, the senior vice president directly owned 5,835 shares in the company, valued at approximately $594,878.25. The trade was a 30.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $95.84, for a total value of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 37,594 shares of company stock valued at $3,608,758. Company insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of Mirum Pharmaceuticals by 21.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock valued at $479,050,000 after acquiring an additional 1,067,722 shares during the period. State Street Corp increased its holdings in shares of Mirum Pharmaceuticals by 59.2% in the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after buying an additional 797,088 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Mirum Pharmaceuticals by 566.8% during the 3rd quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock worth $57,965,000 after acquiring an additional 672,118 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in 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 purchasing an additional 536,674 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Mirum Pharmaceuticals by 2,116.6% during the 3rd quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock valued at $28,560,000 after purchasing an additional 371,999 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.