HC Wainwright Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Key Points

• HC Wainwright raised Mirum Pharmaceuticals’ price target to $200 from $195 and maintained a “buy” rating, implying 137.8% upside from the stock’s $84.10 price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $144.12, despite one sell rating.
• Mirum reported 37.9% year-over-year revenue growth to $176.24 million in its latest quarter, but missed EPS expectations and continues to operate with negative profitability metrics.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its target price boosted by stock analysts at HC Wainwright from $195.00 to $200.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 137.80% from the stock's current price.

A number of other equities research analysts also recently issued reports on MIRM. JPMorgan Chase & Co. boosted their price target on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 2nd. TD Cowen reiterated a "buy" rating on shares of Mirum Pharmaceuticals in a research note on Monday. Weiss Ratings raised shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, September 6th. Finally, Robert W. Baird boosted their target price on shares of Mirum Pharmaceuticals from $123.00 to $130.00 and gave the company an "outperform" rating in a research report on Tuesday, September 29th. One research 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.12.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock traded down $1.91 on Monday, reaching $84.10. The stock had a trading volume of 488,793 shares, compared to its average volume of 852,656. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. Mirum Pharmaceuticals has a 1 year low of $63.23 and a 1 year high of $130.00. The stock has a market cap of $5.46 billion, a P/E ratio of -5.82 and a beta of 0.61. The company has a 50 day simple moving average of $95.08 and a 200 day simple moving average of $100.97.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.32). The firm had revenue of $176.24 million for the quarter, compared to analysts' expectations of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm's revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) EPS. Equities research analysts expect that Mirum Pharmaceuticals will post -1.31 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the sale, the chief executive officer owned 194,440 shares in the company, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 6,001 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the transaction, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. This represents a 14.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,499 shares of company stock worth $9,797,834. 8.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Mirum Pharmaceuticals in the 2nd quarter worth approximately $27,000. Summit Securities Group LLC purchased a new stake in Mirum Pharmaceuticals during the 1st quarter valued at approximately $42,000. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $44,000. State of Wyoming bought a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $52,000. Finally, Fifth Third Bancorp bought a new stake in shares of Mirum Pharmaceuticals during the first quarter valued at approximately $56,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare diseases of the liver and gastrointestinal system. The company's work centers on conditions involving impaired bile acid transport and cholestasis, which can cause serious liver damage and debilitating symptoms such as itching.

Mirum's primary commercial product is Livmarli (maralixibat), an oral ileal bile acid transporter inhibitor. In the United States, Livmarli is approved to treat cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible pediatric patients.

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