Mirum Pharmaceuticals (NASDAQ:MIRM) Upgraded by Wall Street Zen to Buy Rating

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Tuesday, May 13th. JMP Securities upped their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Finally, HC Wainwright reiterated a "buy" rating and set a $73.00 price objective on shares of Mirum Pharmaceuticals in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $65.50.

Mirum Pharmaceuticals Stock Down 4.9%

NASDAQ:MIRM traded down $2.50 during trading hours on Friday, reaching $48.39. The company had a trading volume of 743,618 shares, compared to its average volume of 464,772. Mirum Pharmaceuticals has a twelve month low of $33.45 and a twelve month high of $54.23. The company has a quick ratio of 3.04, a current ratio of 3.22 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -30.06 and a beta of 0.97. The business's 50-day simple moving average is $45.90 and its two-hundred day simple moving average is $45.36.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 33.63% and a negative net margin of 20.39%. The company had revenue of $111.59 million during the quarter, compared to the consensus estimate of $98.47 million. During the same period last year, the business posted ($0.54) EPS. The firm's revenue for the quarter was up 61.2% compared to the same quarter last year. On average, equities analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. boosted its stake in shares of Mirum Pharmaceuticals by 3.4% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock worth $306,120,000 after buying an additional 224,729 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Mirum Pharmaceuticals by 2.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company's stock worth $189,481,000 after acquiring an additional 101,358 shares during the period. Vanguard Group Inc. boosted its position in Mirum Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after purchasing an additional 115,327 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Mirum Pharmaceuticals by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company's stock valued at $58,831,000 after purchasing an additional 138,623 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Mirum Pharmaceuticals by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 943,344 shares of the company's stock valued at $39,016,000 after purchasing an additional 7,147 shares during the last quarter.

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.