Brokerages Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Price Target at $65.50

Key Points

• Mirum Pharmaceuticals has received an average recommendation of "Buy" from eight research firms, with a consensus target price of $65.50.
• The company reported a 61.2% increase in revenue year-over-year, reaching $111.59 million for the most recent quarter, while beating earnings estimates.
• Insider selling was reported with senior vice president Jolanda Howe selling 564 shares, representing a 16.27% decrease in her ownership in the company.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) has earned an average rating of "Buy" from the eight analysts that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $65.50.

Several equities analysts have recently issued reports on the stock. JMP Securities upped their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. HC Wainwright reiterated a "buy" rating and set a $73.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, May 19th. Wall Street Zen lowered Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Finally, Evercore ISI restated an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Friday, July 11th.

Mirum Pharmaceuticals Stock Up 2.4%

NASDAQ:MIRM traded up $1.20 during mid-day trading on Monday, reaching $52.32. The company's stock had a trading volume of 90,955 shares, compared to its average volume of 461,980. Mirum Pharmaceuticals has a 1 year low of $36.20 and a 1 year high of $54.78. The stock has a fifty day moving average of $49.40 and a 200-day moving average of $46.77. The firm has a market capitalization of $2.59 billion, a PE ratio of -32.51 and a beta of 0.97. The company has a quick ratio of 3.04, a current ratio of 3.22 and a debt-to-equity ratio of 1.32.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $111.59 million during the quarter, compared to the consensus estimate of $98.47 million. Mirum Pharmaceuticals had a negative net margin of 20.39% and a negative return on equity of 33.63%. The firm's revenue was up 61.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) earnings per share. Equities research analysts forecast that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 564 shares of Mirum Pharmaceuticals stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total transaction of $27,213.00. Following the transaction, the senior vice president owned 2,903 shares in the company, valued at $140,069.75. The trade was a 16.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its position in shares of Mirum Pharmaceuticals by 259.4% during the 1st quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after purchasing an additional 428 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Mirum Pharmaceuticals in the 4th quarter valued at about $35,000. Comerica Bank grew its position in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after acquiring an additional 278 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Mirum Pharmaceuticals in the 4th quarter valued at about $42,000. Finally, Quarry LP acquired a new position in Mirum Pharmaceuticals in the 1st quarter valued at about $56,000.

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.