Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $80.00

Key Points

• HC Wainwright has increased Mirum Pharmaceuticals' price target from $73.00 to $80.00, indicating a potential upside of 49.84% from the previous closing price.
• Mirum Pharmaceuticals reported a quarterly revenue of $127.79 million, surpassing expectations and demonstrating a significant 64.1% year-over-year growth.
• Equities research analysts have a positive outlook on the stock, with an average rating of "Buy" and one strong buy rating among the recent assessments.

Mirum Pharmaceuticals (NASDAQ:MIRM - Free Report) had its target price upped by HC Wainwright from $73.00 to $80.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently commented on the company. JMP Securities raised their price objective on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Evercore ISI reissued an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Friday, July 11th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of "Buy" and an average price target of $70.50.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM traded up $0.15 during midday trading on Thursday, hitting $59.97. The company had a trading volume of 878,647 shares, compared to its average volume of 437,703. The firm has a fifty day simple moving average of $50.86 and a two-hundred day simple moving average of $47.18. Mirum Pharmaceuticals has a fifty-two week low of $36.86 and a fifty-two week high of $61.00. The company has a quick ratio of 3.04, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -49.56 and a beta of 0.94.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%. The business had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. During the same period last year, the business earned ($0.52) earnings per share. The firm's revenue for the quarter was up 64.1% compared to the same quarter last year. Equities analysts forecast that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. The trade was a 80.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Peetz sold 40,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $55.25, for a total transaction of $2,210,000.00. Following the completion of the sale, the chief executive officer directly owned 138,641 shares in the company, valued at approximately $7,659,915.25. The trade was a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,041 shares of company stock worth $2,840,624 over the last quarter. Company insiders own 14.36% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. CWM LLC increased its holdings in shares of Mirum Pharmaceuticals by 259.4% during the first quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after buying an additional 428 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $35,000. Comerica Bank grew its position in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after acquiring an additional 278 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Mirum Pharmaceuticals during the 4th quarter valued at $42,000. Finally, Quarry LP bought a new position in Mirum Pharmaceuticals in the 1st quarter valued at $56,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.