HC Wainwright Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Key Points

• HC Wainwright raised its price target on Mirum to $175 (from $150) and kept a "buy" rating, implying about a 61% upside from the prior close.
• Shares jumped to $108.60 on heavy volume—near the 52-week high of $110.49—while analysts hold a consensus "Moderate Buy" with a $123.83 average target.
• Mirum's revenue grew 49.8% year-over-year, but the company remains unprofitable after an EPS miss, negative net margin and ROE, and analysts project a negative EPS (~-1.77) for the year.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its price objective upped by equities research analysts at HC Wainwright from $150.00 to $175.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective indicates a potential upside of 61.14% from the stock's previous close.

MIRM has been the subject of several other reports. Robert W. Baird raised their price target on Mirum Pharmaceuticals from $95.00 to $112.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Citizens Jmp restated a "market outperform" rating and set a $132.00 price target on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. Leerink Partners lowered their price target on Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating for the company in a research report on Thursday, February 26th. Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, TD Cowen increased their price objective on Mirum Pharmaceuticals from $117.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.83.

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Mirum Pharmaceuticals Price Performance

Shares of Mirum Pharmaceuticals stock traded up $12.07 during mid-day trading on Monday, reaching $108.60. 1,012,689 shares of the stock traded hands, compared to its average volume of 814,517. The business has a 50-day moving average of $93.78 and a 200 day moving average of $85.40. Mirum Pharmaceuticals has a fifty-two week low of $40.00 and a fifty-two week high of $110.49. The stock has a market capitalization of $6.62 billion, a PE ratio of -226.17 and a beta of 0.52. The company has a quick ratio of 2.55, a current ratio of 2.67 and a debt-to-equity ratio of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The firm had revenue of $148.93 million for the quarter, compared to analyst estimates of $141.78 million. During the same period in the previous year, the company earned $1.00 EPS. Mirum Pharmaceuticals's revenue was up 49.8% compared to the same quarter last year. On average, analysts predict that Mirum Pharmaceuticals will post -1.77 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $435,249.36. Following the sale, the senior vice president directly owned 8,429 shares in the company, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Peetz sold 40,985 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $3,769,800.30. Following the completion of the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $17,872,541.82. The trade was a 17.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 76,806 shares of company stock valued at $7,064,616. 22.87% of the stock is owned by company insiders.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of MIRM. Cullen Frost Bankers Inc. acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at $30,000. MCF Advisors LLC raised its stake in Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company's stock valued at $31,000 after buying an additional 185 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at $32,000. CIBC Private Wealth Group LLC acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at $32,000. Finally, Quantbot Technologies LP acquired a new stake in Mirum Pharmaceuticals in the third quarter valued at $33,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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