Mirum Pharmaceuticals’ (MIRM) Market Outperform Rating Reiterated at Citizens Jmp

Mirum Pharmaceuticals (NASDAQ:MIRM)‘s stock had its “market outperform” rating reiterated by analysts at Citizens Jmp in a research note issued on Thursday,Benzinga reports. They presently have a $137.00 target price on the stock. Citizens Jmp’s price target suggests a potential upside of 39.82% from the company’s previous close.

MIRM has been the topic of a number of other research reports. Citigroup reaffirmed a “market outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday. UBS Group set a $137.00 price objective on Mirum Pharmaceuticals in a research note on Thursday. Morgan Stanley set a $137.00 target price on Mirum Pharmaceuticals in a research report on Thursday, August 6th. HC Wainwright decreased their target price on Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $137.31.

Mirum Pharmaceuticals Trading Down 0.5%

Shares of Mirum Pharmaceuticals stock traded down $0.53 during midday trading on Thursday, reaching $97.98. The company had a trading volume of 10,601 shares, compared to its average volume of 867,927. The stock has a fifty day moving average price of $110.97 and a 200 day moving average price of $101.83. Mirum Pharmaceuticals has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The firm has a market cap of $6.36 billion, a PE ratio of -6.70 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The firm had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, equities analysts anticipate that Mirum Pharmaceuticals will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 194,309 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the sale, the senior vice president owned 1,274 shares in the company, valued at $127,400. The trade was a 96.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 133,156 shares of company stock worth $13,763,562 over the last quarter. 8.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Amundi purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter worth about $363,000. California State Teachers Retirement System grew its stake in Mirum Pharmaceuticals by 12,542.7% during the second quarter. California State Teachers Retirement System now owns 5,622,989 shares of the company’s stock valued at $658,283,000 after acquiring an additional 5,578,513 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Mirum Pharmaceuticals by 117.2% during the second quarter. Alyeska Investment Group L.P. now owns 73,959 shares of the company’s stock valued at $8,658,000 after acquiring an additional 39,908 shares in the last quarter. Penn Capital Management Company LLC increased its holdings in Mirum Pharmaceuticals by 16.4% during the 2nd quarter. Penn Capital Management Company LLC now owns 298,914 shares of the company’s stock worth $35,056,000 after acquiring an additional 42,147 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Mirum Pharmaceuticals by 3.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,725 shares of the company’s stock worth $8,046,000 after acquiring an additional 2,096 shares during the period.

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.