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

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 report released on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other research firms also recently commented on MIRM. Evercore ISI reiterated an "outperform" rating on shares of Mirum Pharmaceuticals in a research note on Friday, July 11th. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Finally, JMP Securities increased their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Stock Up 9.8%

Shares of NASDAQ MIRM traded up $5.86 during midday trading on Thursday, reaching $65.83. 1,072,265 shares of the company's stock traded hands, compared to its average volume of 478,730. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The stock's 50 day simple moving average is $50.86 and its 200-day simple moving average is $47.17. Mirum Pharmaceuticals has a one year low of $36.86 and a one year high of $66.17. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -54.30 and a beta of 0.94.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) 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 in the prior year, the firm posted ($0.52) earnings per share. The business's quarterly revenue was up 64.1% on a year-over-year basis. On average, analysts predict that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 10,000 shares of the firm'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 completion of the sale, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction on 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 owned 138,641 shares of the company's stock, valued at $7,659,915.25. This trade represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,041 shares of company stock valued at $2,840,624 in the last 90 days. Company insiders own 22.87% of the company's stock.

Institutional Trading of Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in MIRM. Nuveen LLC acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at about $29,495,000. Federated Hermes Inc. lifted its stake in shares of Mirum Pharmaceuticals by 9,440.4% in the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock valued at $15,649,000 after purchasing an additional 343,725 shares during the period. Emerald Advisers LLC acquired a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at about $15,560,000. Bank of New York Mellon Corp lifted its stake in shares of Mirum Pharmaceuticals by 101.1% in the second quarter. Bank of New York Mellon Corp now owns 496,061 shares of the company's stock valued at $25,245,000 after purchasing an additional 249,331 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Mirum Pharmaceuticals by 46.7% in the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after purchasing an additional 229,746 shares during the period.

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.