Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stock Has Average Target Price of $137.31

Key Points

• Analysts remain broadly positive: Mirum Pharmaceuticals has a “Moderate Buy” consensus from 15 analysts, with an average 12-month price target of $137.31 versus a recent price of $89.70.
• Quarterly results were mixed: Revenue rose 37.9% year over year to $176.24 million, exceeding estimates, but the company reported an adjusted loss of $1.06 per share, wider than expected.
• Insiders have been selling shares: Company insiders sold 126,220 shares worth approximately $13.18 million over the past 90 days, while several major institutional investors established or increased positions.

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fifteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $137.31.

A number of analysts have commented on the stock. Royal Bank Of Canada lowered their target price on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. HC Wainwright reduced their price target on Mirum Pharmaceuticals from $185.00 to $140.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. UBS Group set a $137.00 price objective on Mirum Pharmaceuticals in a research note on Thursday, August 27th. TD Cowen decreased their price objective on Mirum Pharmaceuticals from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Sunday, September 6th.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock opened at $89.70 on Friday. The company has a market cap of $5.82 billion, a PE ratio of -6.16 and a beta of 0.49. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 1 year low of $63.23 and a 1 year high of $130.00. The company's 50-day moving average is $100.90 and its two-hundred day moving average is $101.41.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) 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 business had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The firm's quarterly revenue was up 37.9% compared to the same quarter last year. Equities analysts anticipate that Mirum Pharmaceuticals will post -1.31 earnings per share for the current year.

Insider Activity

In related news, 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 owned 36,355 shares of the company's stock, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business'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 transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 126,220 shares of company stock valued at $13,181,004 in the last ninety days. 8.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jupiter Topco LLC acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $691,672,000. BlackRock Inc. acquired a new stake in Mirum Pharmaceuticals during the 2nd quarter worth approximately $513,945,000. William Blair Investment Management LLC bought a new position in Mirum Pharmaceuticals in the second quarter valued at approximately $164,453,000. Janus Henderson Group PLC boosted its holdings in shares of Mirum Pharmaceuticals by 14.5% in the first 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 during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $78,434,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on liver and gastrointestinal disorders. The company's medicines are intended to address serious conditions for which available treatment options are limited.

Mirum's lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor approved in the United States for the treatment of cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible patients.

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