Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $125.00

Key Points

• TD Cowen raised its price target on Mirum Pharmaceuticals from $117 to $125 and kept a "buy" rating, implying about a 39.7% upside from the prior close.
• Mirum missed EPS estimates (reported -$0.11 vs. $0.02 expected) but beat revenue at $148.93 million (+49.8% YoY); the stock traded around $89.45 with a market cap of about $5.4 billion and a negative P/E.
• Insider activity was mixed: COO Peter Radovich sold ~16,515 shares (~$1.52M) while Director Patrick J. Heron bought 131,425 shares (~$9.0M); company insiders hold about 14.36% of the stock.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its price target upped by analysts at TD Cowen from $117.00 to $125.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price target suggests a potential upside of 39.74% from the company's previous close.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada reduced their target price on Mirum Pharmaceuticals from $130.00 to $128.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Citigroup restated an "outperform" rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. Citizens Jmp cut their price target on Mirum Pharmaceuticals from $140.00 to $132.00 and set a "market outperform" rating for the company in a report on Thursday, February 26th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $130.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.67.

Mirum Pharmaceuticals Stock Up 0.6%

MIRM stock traded up $0.57 during midday trading on Friday, hitting $89.45. The company's stock had a trading volume of 181,242 shares, compared to its average volume of 836,369. The company's fifty day moving average price is $96.41 and its 200 day moving average price is $81.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.67 and a quick ratio of 2.55. Mirum Pharmaceuticals has a twelve month low of $36.88 and a twelve month high of $109.28. The stock has a market capitalization of $5.40 billion, a P/E ratio of -187.16 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). The business had revenue of $148.93 million for the quarter, compared to analyst estimates of $141.78 million. Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The company's quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. As a group, equities research analysts predict that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 16,515 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $1,519,049.70. Following the completion of the transaction, the chief operating officer directly owned 40,272 shares of the company's stock, valued at $3,704,218.56. The trade was a 29.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Heron bought 131,425 shares of the business's stock in a transaction dated Friday, January 23rd. The shares were bought at an average price of $68.48 per share, with a total value of $8,999,984.00. Following the completion of the transaction, the director owned 459,010 shares in the company, valued at approximately $31,433,004.80. This trade represents a 40.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 121,942 shares of company stock valued at $11,416,645 in the last quarter. Company insiders own 14.36% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth $30,000. Eurizon Capital SGR S.p.A. bought a new position in Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at about $32,000. MCF Advisors LLC boosted its stake in shares of Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company's stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals during the third quarter worth about $33,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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