Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised Mirum Pharmaceuticals’ price target from $140 to $145 and maintained a “buy” rating, implying 71.83% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $148.19, though some firms maintain sell ratings.
• Mirum’s latest quarter showed revenue growth of 37.9% year over year to $176.24 million, but the company missed EPS estimates and remains unprofitable; insiders have also sold nearly 98,500 shares over the past three months.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its target price boosted by stock analysts at TD Cowen from $140.00 to $145.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price target indicates a potential upside of 71.83% from the company's previous close.

Several other brokerages have also weighed in on MIRM. Wall Street Zen lowered Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Sunday, September 6th. Evercore reaffirmed an "outperform" rating and set a $146.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, October 13th. UBS Group set a $137.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. HC Wainwright lifted their target price on shares of Mirum Pharmaceuticals from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Finally, Weiss Ratings raised shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.19.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ:MIRM traded down $0.69 during mid-day trading on Wednesday, reaching $84.39. The company had a trading volume of 119,647 shares, compared to its average volume of 846,485. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -5.79 and a beta of 0.61. The company's 50-day moving average price is $92.46 and its 200-day moving average price is $100.58. Mirum Pharmaceuticals has a one year low of $63.23 and a one year high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.32). The firm had revenue of $176.24 million during the quarter, compared to analysts' expectations of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%. The business's quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) earnings per share. As a group, equities research analysts anticipate that Mirum Pharmaceuticals will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was 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 of the company's stock, valued at approximately $19,187,339.20. This represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the transaction, the senior vice president owned 1,274 shares of the company's stock, valued at approximately $127,400. This represents a 96.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 98,499 shares of company stock worth $9,797,834. 8.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new stake in Mirum Pharmaceuticals in the second quarter valued at approximately $691,672,000. Janus Henderson Group PLC raised its holdings in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock valued at $641,764,000 after buying an additional 880,505 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $513,945,000. ABS Investment Management LLC purchased a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at $245,847,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at $164,453,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company's medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum's lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.

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