Mirum Pharmaceuticals (NASDAQ:MIRM) PT Set at $89.00 by Stifel Nicolaus

Key Points

• Analysts at Stifel Nicolaus have set a target price of $89.00 for Mirum Pharmaceuticals, indicating a potential upside of 48.41% from its current price.
• Mirum has reported a 64.1% year-over-year increase in revenue, achieving $127.79 million during the last quarter and surpassing analysts' expectations.
• Company insiders recently sold a total of 51,041 shares of stock worth approximately $2.84 million, with CEO Christopher Peetz's ownership decreasing by 22.39% following his sale.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) has been assigned a $89.00 price objective by stock analysts at Stifel Nicolaus in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 39.99% from the stock's previous close.

Several other research analysts also recently weighed in on the company. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Thursday. JMP Securities boosted their price objective on Mirum Pharmaceuticals from $79.00 to $81.00 and gave the company a "market outperform" rating in a report on Thursday. Wall Street Zen raised Mirum Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday. Evercore ISI boosted their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a report on Friday. Finally, HC Wainwright boosted their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a report on Thursday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $74.13.

Mirum Pharmaceuticals Stock Up 6.0%

MIRM stock traded up $3.61 on Monday, hitting $63.58. 386,310 shares of the company's stock were exchanged, compared to its average volume of 474,023. Mirum Pharmaceuticals has a 12-month low of $36.86 and a 12-month high of $64.18. The firm has a 50 day moving average price of $50.86 and a two-hundred day moving average price of $47.17. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The stock has a market cap of $3.19 billion, a P/E ratio of -52.37 and a beta of 0.94.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%. The firm had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. During the same period in the previous year, the business earned ($0.52) EPS. The firm's revenue for the quarter was up 64.1% on a year-over-year basis. As a group, equities research analysts expect that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the sale, the senior vice president directly owned 2,426 shares in the company, valued at $140,708. This represents a 80.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Peetz sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $55.25, for a total value of $2,210,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares of the company's stock, valued at $7,659,915.25. This trade represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,041 shares of company stock valued at $2,840,624. 22.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. grew its position in 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 worth $306,120,000 after acquiring an additional 224,729 shares during the period. Janus Henderson Group PLC boosted its position in shares of 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 buying an additional 101,358 shares during the period. Vanguard Group Inc. boosted its position in shares of Mirum Pharmaceuticals by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after buying an additional 115,327 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Mirum Pharmaceuticals by 10.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company's stock worth $58,831,000 after buying an additional 138,623 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Mirum Pharmaceuticals by 6.8% during the second quarter. Geode Capital Management LLC now owns 1,029,616 shares of the company's stock worth $52,405,000 after buying an additional 65,951 shares during the period.

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.