Mirum Pharmaceuticals (NASDAQ:MIRM) Rating Increased to Buy at Wall Street Zen

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

A number of other analysts have also commented on the stock. JMP Securities boosted their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. HC Wainwright reissued a "buy" rating and issued a $73.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday, May 19th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $65.50.

Mirum Pharmaceuticals Stock Up 1.0%

Shares of MIRM stock traded up $0.53 during trading on Friday, reaching $51.09. The company's stock had a trading volume of 939,544 shares, compared to its average volume of 464,855. The business has a fifty day moving average price of $45.47 and a 200-day moving average price of $45.26. 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 company has a market cap of $2.53 billion, a price-to-earnings ratio of -31.73 and a beta of 0.95. Mirum Pharmaceuticals has a one year low of $33.45 and a one year high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. Mirum Pharmaceuticals had a negative net margin of 20.39% and a negative return on equity of 33.63%. The firm's revenue for the quarter was up 61.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. Analysts anticipate that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in MIRM. Nuveen LLC acquired a new position in Mirum Pharmaceuticals during the first quarter worth $29,495,000. Federated Hermes Inc. increased its holdings in Mirum Pharmaceuticals by 9,440.4% during the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock worth $15,649,000 after buying an additional 343,725 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth $10,611,000. Nuveen Asset Management LLC increased its holdings in Mirum Pharmaceuticals by 46.7% during the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after buying an additional 229,746 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. increased its holdings in shares of Mirum Pharmaceuticals by 3.4% in the first quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock valued at $306,120,000 after purchasing an additional 224,729 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.