Mirum Pharmaceuticals (NASDAQ:MIRM) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM - Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $58.00 target price on the stock.

A number of other research firms also recently weighed in on MIRM. Cantor Fitzgerald reissued an overweight rating and issued a $35.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, February 29th. Raymond James lowered their target price on Mirum Pharmaceuticals from $78.00 to $64.00 and set a strong-buy rating on the stock in a report on Tuesday, December 19th. SVB Leerink reduced their price target on Mirum Pharmaceuticals from $44.00 to $43.00 and set an outperform rating for the company in a research report on Monday, March 18th. Finally, JMP Securities upped their price target on Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, March 14th. Seven 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.com, the company currently has an average rating of Buy and a consensus target price of $52.11.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ:MIRM traded down $0.24 during midday trading on Tuesday, reaching $25.21. 1,030,029 shares of the company's stock traded hands, compared to its average volume of 603,705. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -6.32 and a beta of 1.14. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.19 and a current ratio of 4.45. Mirum Pharmaceuticals has a one year low of $22.34 and a one year high of $35.56. The stock has a 50 day moving average of $27.39 and a 200 day moving average of $29.07.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 86.33% and a negative return on equity of 66.24%. The business had revenue of $69.55 million for the quarter, compared to the consensus estimate of $66.73 million. As a group, equities research analysts anticipate that Mirum Pharmaceuticals will post -1.12 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other news, insider Lara Longpre sold 1,019 shares of the business's stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $28.04, for a total transaction of $28,572.76. Following the sale, the insider now owns 105,254 shares of the company's stock, valued at approximately $2,951,322.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Lara Longpre sold 1,019 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $28.04, for a total value of $28,572.76. Following the completion of the sale, the insider now directly owns 105,254 shares in the company, valued at approximately $2,951,322.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 5,209 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $28.03, for a total transaction of $146,008.27. Following the transaction, the chief executive officer now directly owns 110,125 shares in the company, valued at approximately $3,086,803.75. The disclosure for this sale can be found here. Insiders have sold 13,202 shares of company stock worth $359,119 in the last quarter. Company insiders own 24.06% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silverarc Capital Management LLC boosted its stake in shares of Mirum Pharmaceuticals by 0.4% during the 2nd quarter. Silverarc Capital Management LLC now owns 106,375 shares of the company's stock valued at $2,752,000 after buying an additional 436 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 acquiring an additional 488 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Mirum Pharmaceuticals by 1.2% in the third quarter. Los Angeles Capital Management LLC now owns 42,444 shares of the company's stock valued at $1,341,000 after buying an additional 494 shares in the last quarter. Royal Bank of Canada boosted its position in Mirum Pharmaceuticals by 40.1% in the second quarter. Royal Bank of Canada now owns 1,851 shares of the company's stock valued at $48,000 after buying an additional 530 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Mirum Pharmaceuticals by 4.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,037 shares of the company's stock valued at $358,000 after buying an additional 654 shares in 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.