Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $82.00 at Raymond James Financial

Key Points

• Raymond James Financial raised its price target for Mirum Pharmaceuticals (NASDAQ:MIRM) from $77.00 to $82.00, indicating a potential upside of 35.89% based on the stock's previous close.
• Mirum Pharmaceuticals reported a quarterly revenue of $127.79 million, exceeding analyst estimates, while earnings per share improved from ($0.52) to ($0.12) year-over-year.
• Multiple brokerages have given mixed ratings on Mirum, with one analyst rating it "strong buy," while others suggest a "buy" or "hold," contributing to an average rating of "Buy" with a consensus target price of $67.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its price target increased by stock analysts at Raymond James Financial from $77.00 to $82.00 in a report released on Thursday,Benzinga reports. The firm presently has a "strong-buy" rating on the stock. Raymond James Financial's price objective would suggest a potential upside of 35.89% from the stock's previous close.

A number of other brokerages also recently commented on MIRM. JMP Securities increased their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Evercore ISI restated an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Friday, July 11th. HC Wainwright upped 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. Finally, Wall Street Zen cut shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. One investment 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 company. According to MarketBeat.com, Mirum Pharmaceuticals has an average rating of "Buy" and a consensus target price of $67.00.

Mirum Pharmaceuticals Stock Up 13.0%

MIRM opened at $60.34 on Thursday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -36.81 and a beta of 0.94. The company has a fifty day moving average of $50.23 and a two-hundred day moving average of $47.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.04 and a current ratio of 3.22. Mirum Pharmaceuticals has a fifty-two week low of $36.86 and a fifty-two week high of $57.65.

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 20.39% and a negative return on equity of 33.63%. 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. On average, research analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 564 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $48.25, for a total value of $27,213.00. Following the sale, the senior vice president directly owned 2,903 shares of the company's stock, valued at approximately $140,069.75. This trade represents a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently modified their holdings of MIRM. CWM LLC increased its stake in shares of Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after buying an additional 428 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Mirum Pharmaceuticals during the fourth quarter valued at $35,000. Comerica Bank increased its stake in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after purchasing an additional 278 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at $42,000. Finally, Quarry LP acquired a new position in shares of Mirum Pharmaceuticals during the first quarter valued at $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.