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

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) have received a consensus rating of "Buy" from the eight research firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $65.50.

Several equities analysts have issued reports on the stock. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. HC Wainwright restated a "buy" rating and issued a $73.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, May 19th. Wall Street Zen raised shares of Mirum Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, June 28th. Finally, JMP Securities boosted their target price on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th.

Mirum Pharmaceuticals Stock Up 1.7%

MIRM stock traded up $0.84 during midday trading on Thursday, hitting $49.93. The company's stock had a trading volume of 216,684 shares, compared to its average volume of 465,058. The firm's 50-day moving average is $46.46 and its 200-day moving average is $45.49. The company has a current ratio of 3.22, a quick ratio of 3.04 and a debt-to-equity ratio of 1.32. Mirum Pharmaceuticals has a 12 month low of $33.64 and a 12 month high of $54.23. The company has a market cap of $2.47 billion, a PE ratio of -31.01 and a beta of 0.97.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results 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 33.63% and a negative net margin of 20.39%. The firm had revenue of $111.59 million during the quarter, compared to analysts' expectations of $98.47 million. During the same quarter in the previous year, the business earned ($0.54) earnings per share. The company's revenue was up 61.2% on a year-over-year basis. On average, equities research analysts forecast that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 564 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total value of $27,213.00. Following the completion of the sale, the senior vice president directly owned 2,903 shares in the company, valued at $140,069.75. This represents a 16.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 14.36% of the stock is owned by corporate insiders.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Mirum Pharmaceuticals during the 1st quarter valued at about $29,495,000. Federated Hermes Inc. raised its stake in Mirum Pharmaceuticals by 9,440.4% during the 1st quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock worth $15,649,000 after acquiring an additional 343,725 shares during the period. Raymond James Financial Inc. purchased a new position in Mirum Pharmaceuticals during the fourth quarter valued at approximately $10,611,000. Nuveen Asset Management LLC boosted its position 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 worth $29,861,000 after purchasing an additional 229,746 shares during the period. Finally, Frazier Life Sciences Management L.P. increased its stake in shares of Mirum Pharmaceuticals by 3.4% in the first quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock worth $306,120,000 after purchasing an additional 224,729 shares in the last quarter.

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.