Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Given Average Rating of "Buy" by Brokerages

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) has been given a consensus recommendation of "Buy" by the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $60.64.

A number of brokerages have recently commented on MIRM. HC Wainwright lifted their price target on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Raymond James lifted their price objective on Mirum Pharmaceuticals from $73.00 to $77.00 and gave the stock a "strong-buy" rating in a research note on Tuesday. JMP Securities lifted their price objective on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Finally, Robert W. Baird lifted their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Patrick J. Heron purchased 1,335 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $45.57 per share, with a total value of $60,835.95. Following the completion of the purchase, the director now owns 163,643 shares in the company, valued at $7,457,211.51. This represents a 0.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Peter Radovich sold 7,879 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.21, for a total value of $348,330.59. Following the completion of the transaction, the chief operating officer now directly owns 18,672 shares in the company, valued at approximately $825,489.12. This trade represents a 29.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,764 shares of company stock valued at $4,109,161. 14.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. raised its position in shares of Mirum Pharmaceuticals by 25.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company's stock worth $6,021,000 after purchasing an additional 29,545 shares during the period. AlphaQuest LLC raised its position in shares of Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,658 shares during the period. Golden State Equity Partners raised its position in shares of Mirum Pharmaceuticals by 1,390.8% during the fourth quarter. Golden State Equity Partners now owns 19,380 shares of the company's stock worth $801,000 after purchasing an additional 18,080 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth approximately $277,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth approximately $413,000.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $45.27 on Wednesday. The business's 50-day moving average price is $42.88 and its 200-day moving average price is $44.35. Mirum Pharmaceuticals has a 12 month low of $23.83 and a 12 month high of $54.23. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -22.41 and a beta of 0.95. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $98.47 million. During the same period last year, the firm posted ($0.54) earnings per share. The business's revenue for the quarter was up 61.2% on a year-over-year basis. Equities research analysts forecast that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.