Mirum Pharmaceuticals (NASDAQ:MIRM) Given a $81.00 Price Target by JMP Securities Analysts

Key Points

• Mirum Pharmaceuticals' price target was raised by JMP Securities to $81.00, indicating a potential upside of 36.88% from its current price.
• The company reported a quarterly revenue of $127.79 million, exceeding estimates and showing a year-over-year increase of 64.1%.
• Insider trading reported a 16.27% decrease in ownership by SVP Jolanda Howe, who sold 564 shares at an average price of $48.25.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) has been given a $81.00 price target by equities researchers at JMP Securities in a note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price objective points to a potential upside of 22.98% from the stock's current price.

A number of other research analysts have also commented on MIRM. HC Wainwright upped their price objective on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Raymond James Financial raised their target price on shares of Mirum Pharmaceuticals from $77.00 to $82.00 and gave the stock a "strong-buy" rating in a research note on Thursday. Finally, Evercore ISI restated an "outperform" rating on shares of Mirum Pharmaceuticals in a research report on Friday, July 11th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Trading Up 9.8%

Shares of MIRM stock traded up $5.90 during mid-day trading on Thursday, hitting $65.87. 1,153,997 shares of the company's stock were exchanged, compared to its average volume of 479,837. 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 stock has a market cap of $3.31 billion, a price-to-earnings ratio of -54.48 and a beta of 0.94. The stock has a 50-day simple moving average of $50.86 and a two-hundred day simple moving average of $47.17. Mirum Pharmaceuticals has a fifty-two week low of $36.86 and a fifty-two week high of $66.17.

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

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.25, for a total transaction of $2,210,000.00. Following the sale, the chief executive officer directly owned 138,641 shares in the company, valued at $7,659,915.25. This represents a 22.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jolanda Howe sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the sale, the senior vice president directly owned 2,426 shares of the company's stock, valued at $140,708. The trade was a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,041 shares of company stock worth $2,840,624. 22.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MIRM. Nuveen LLC bought a new position in Mirum Pharmaceuticals in the 1st quarter valued at $29,495,000. Federated Hermes Inc. boosted its position in Mirum Pharmaceuticals by 9,440.4% during the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock valued at $15,649,000 after acquiring an additional 343,725 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $15,560,000. Bank of New York Mellon Corp grew its position in shares of Mirum Pharmaceuticals by 101.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,061 shares of the company's stock valued at $25,245,000 after purchasing an additional 249,331 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Mirum Pharmaceuticals by 46.7% during the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after acquiring an additional 229,746 shares during 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.