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

Key Points

• Mirum Pharmaceuticals, Inc. has received a consensus recommendation of "Buy" from eight brokerages, with an average 12-month target price of $74.13.
• Insider activity shows significant stock sales, with CEO Christopher Peetz selling 40,000 shares for approximately $2.48 million, representing a 22.39% decrease in his ownership.
• The company reported a 64.1% increase in revenue year-over-year, totaling $127.79 million for the last quarter, easily surpassing analyst estimates.

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) have received a consensus recommendation of "Buy" from the eight brokerages that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $74.1250.

MIRM has been the topic of a number of recent analyst reports. Evercore ISI raised their target price on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 17th. JMP Securities set a $81.00 price objective on shares of Mirum Pharmaceuticals and gave the company a "market outperform" rating in a report on Thursday, August 7th. HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th.

Insider Activity

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the senior vice president directly owned 2,426 shares in the company, valued at approximately $140,708. The trade was a 80.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the transaction, the chief executive officer owned 138,641 shares in the company, valued at $8,595,742. This trade represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,041 shares of company stock worth $5,320,624. Corporate insiders own 14.36% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently bought and sold shares of MIRM. Legal & General Group Plc lifted its stake in Mirum Pharmaceuticals by 3.5% in the 4th quarter. Legal & General Group Plc now owns 40,820 shares of the company's stock valued at $1,688,000 after acquiring an additional 1,389 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth $1,728,000. MetLife Investment Management LLC lifted its position in shares of Mirum Pharmaceuticals by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 24,085 shares of the company's stock worth $996,000 after purchasing an additional 1,356 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Mirum Pharmaceuticals by 260.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,112 shares of the company's stock worth $211,000 after purchasing an additional 3,694 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth $269,000.

Mirum Pharmaceuticals Stock Up 3.5%

NASDAQ:MIRM opened at $69.06 on Friday. Mirum Pharmaceuticals has a 12-month low of $36.86 and a 12-month high of $69.27. 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 firm has a market capitalization of $3.47 billion, a P/E ratio of -57.07 and a beta of 0.94. The stock's fifty day simple moving average is $54.37 and its 200-day simple moving average is $48.30.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $107.91 million. During the same period last year, the company earned ($0.52) EPS. The firm's revenue was up 64.1% on a year-over-year basis. Equities research analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

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.

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