HC Wainwright Reaffirms Buy Rating for Mirum Pharmaceuticals (NASDAQ:MIRM)

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $73.00 target price on the stock. HC Wainwright's target price points to a potential upside of 62.19% from the stock's previous close.

MIRM has been the subject of a number of other reports. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Raymond James reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. Finally, JMP Securities boosted their target price on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $60.73.

Mirum Pharmaceuticals Stock Performance

MIRM stock opened at $45.01 on Monday. The stock has a 50-day moving average price of $42.96 and a 200-day moving average price of $44.51. Mirum Pharmaceuticals has a 1-year low of $23.83 and a 1-year high of $54.23. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The firm has a market cap of $2.23 billion, a PE ratio of -22.28 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $111.59 million during the quarter, compared to analyst estimates of $98.47 million. During the same period last year, the company posted ($0.54) EPS. The business's quarterly revenue was up 61.2% on a year-over-year basis. As a group, equities research analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the completion of the transaction, the senior vice president now owns 4,841 shares in the company, valued at approximately $214,698.35. The trade was a 92.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Radovich sold 7,879 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.21, for a total value of $348,330.59. Following the transaction, the chief operating officer now owns 18,672 shares of the company's stock, valued at $825,489.12. This trade represents a 29.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,764 shares of company stock worth $4,109,161. Insiders own 14.36% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MIRM. CWM LLC boosted its stake in shares of Mirum Pharmaceuticals by 259.4% in the 1st quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after buying an additional 428 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock worth $30,000 after buying an additional 357 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $35,000. Comerica Bank boosted its stake in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after buying an additional 278 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $42,000.

About Mirum Pharmaceuticals

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.

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