Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Cut to $53.00

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its target price lowered by investment analysts at Morgan Stanley from $57.00 to $53.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 114.05% from the company's current price.

MIRM has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on Mirum Pharmaceuticals in a research report on Wednesday, April 17th. They issued a "buy" rating and a $48.00 target price on the stock. JMP Securities cut their price objective on Mirum Pharmaceuticals from $72.00 to $66.00 and set a "market outperform" rating on the stock in a research report on Thursday. HC Wainwright reaffirmed a "buy" rating and set a $58.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $40.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday. Finally, Citigroup upped their price objective on Mirum Pharmaceuticals from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $49.73.

Mirum Pharmaceuticals Price Performance

MIRM stock traded down $1.07 during trading on Friday, hitting $24.76. The stock had a trading volume of 429,935 shares, compared to its average volume of 399,929. The company has a current ratio of 4.45, a quick ratio of 4.19 and a debt-to-equity ratio of 1.23. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $35.56. The company's 50-day moving average price is $25.86 and its two-hundred day moving average price is $28.11.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.32). The company had revenue of $69.55 million for the quarter, compared to analyst estimates of $66.73 million. Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. As a group, equities research analysts anticipate that Mirum Pharmaceuticals will post -1.34 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In related news, COO Peter Radovich sold 4,303 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 25th. The shares were sold at an average price of $25.80, for a total transaction of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Peter Radovich sold 4,303 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 25th. The shares were sold at an average price of $25.80, for a total transaction of $111,017.40. Following the sale, the chief operating officer now owns 29,013 shares of the company's stock, valued at approximately $748,535.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eric Bjerkholt purchased 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The shares were purchased at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the purchase, the chief financial officer now directly owns 14,000 shares in the company, valued at $347,200. The disclosure for this purchase can be found here. Company insiders own 22.87% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MIRM. China Universal Asset Management Co. Ltd. boosted its stake in Mirum Pharmaceuticals by 98.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 986 shares of the company's stock valued at $31,000 after purchasing an additional 488 shares during the period. AJOVista LLC acquired a new position in Mirum Pharmaceuticals during the 4th quarter valued at about $40,000. Wetzel Investment Advisors Inc. acquired a new position in Mirum Pharmaceuticals during the 4th quarter valued at about $41,000. StepStone Group LP acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $135,000. Finally, Quest Partners LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $194,000.

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.