Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Expected to Rise, JMP Securities Analyst Says

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) had its price objective lifted by analysts at JMP Securities from $79.00 to $81.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' target price points to a potential upside of 35.07% from the company's previous close.

Several other equities analysts have also weighed in on MIRM. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. HC Wainwright boosted their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a report on Thursday. Raymond James Financial boosted their target price on shares of Mirum Pharmaceuticals from $77.00 to $82.00 and gave the company a "strong-buy" rating in a report on Thursday. Finally, Evercore ISI reiterated an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Friday, July 11th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $70.50.

Mirum Pharmaceuticals Trading Up 0.3%

NASDAQ:MIRM traded up $0.15 on Thursday, hitting $59.97. The stock had a trading volume of 878,647 shares, compared to its average volume of 437,703. The company has a quick ratio of 3.04, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -49.56 and a beta of 0.94. The company has a fifty day moving average price of $50.86 and a two-hundred day moving average price of $47.18. Mirum Pharmaceuticals has a 1-year low of $36.86 and a 1-year high of $61.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.19. The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. Mirum Pharmaceuticals's revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.52) EPS. Equities research analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 40,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 138,641 shares of the company's stock, valued at approximately $7,659,915.25. This trade represents a 22.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jolanda Howe sold 10,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $140,708. The trade was a 80.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,041 shares of company stock valued at $2,840,624 in the last ninety days. 14.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MIRM. CWM LLC lifted its holdings in Mirum Pharmaceuticals by 259.4% during the 1st quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after buying an additional 428 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $35,000. Comerica Bank lifted its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after buying an additional 278 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $42,000. Finally, Quarry LP acquired a new stake in Mirum Pharmaceuticals during the 1st quarter worth approximately $56,000.

About Mirum Pharmaceuticals

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.