Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Key Points

• Citizens JMP raised its price target on Mirum Pharmaceuticals from $140 to $146 and reiterated a market outperform rating, implying about 41.6% upside from the current share price.
• Other analysts were mostly positive as well, with several firms maintaining or initiating buy/outperform views; the overall consensus rating is Moderate Buy with a consensus price target of $139.80.
• Mirum reported revenue growth of 43.3% year over year in its latest quarter, though it posted a much larger-than-expected loss per share. The stock also saw recent insider selling by the CEO and CFO.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its price target lifted by stock analysts at Citizens Jmp from $140.00 to $146.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's price target would suggest a potential upside of 41.58% from the stock's current price.

A number of other brokerages have also recently weighed in on MIRM. Evercore reiterated an "outperform" rating and issued a $138.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Wolfe Research initiated coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an "outperform" rating and a $145.00 price target for the company. Morgan Stanley raised their price objective on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.80.

Mirum Pharmaceuticals Stock Performance

MIRM traded up $3.77 on Monday, reaching $103.12. The company had a trading volume of 48,856 shares, compared to its average volume of 880,619. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 1 year low of $47.89 and a 1 year high of $114.99. The stock has a market capitalization of $6.29 billion, a PE ratio of -7.56 and a beta of 0.50. The stock has a 50-day moving average price of $97.89 and a 200-day moving average price of $91.27.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($12.68). The firm had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm's revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) EPS. As a group, research analysts forecast that Mirum Pharmaceuticals will post -2.01 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the completion of the transaction, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00. Following the transaction, the chief financial officer owned 44,788 shares of the company's stock, valued at approximately $4,202,010.16. The trade was a 10.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in Mirum Pharmaceuticals by 14.5% in the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock valued at $641,764,000 after purchasing an additional 880,505 shares during the period. Vanguard Group Inc. boosted its holdings in Mirum Pharmaceuticals by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company's stock valued at $205,065,000 after purchasing an additional 50,720 shares in the last quarter. State Street Corp increased its position in Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company's stock worth $169,354,000 after purchasing an additional 797,088 shares during the period. Price T Rowe Associates Inc. MD increased its position in Mirum Pharmaceuticals by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company's stock worth $112,196,000 after purchasing an additional 137,087 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Mirum Pharmaceuticals by 56.6% during the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company's stock worth $97,776,000 after buying an additional 447,141 shares in the last quarter.

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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