Mirum Pharmaceuticals (NASDAQ:MIRM) Downgraded by Zacks Investment Research

Mirum Pharmaceuticals (NASDAQ:MIRM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Mirum Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. The company’s product candidate consists of maralixibat, an investigational oral drug in development for progressive familial intrahepatic cholestasis and Alagille syndrome. Mirum Pharmaceuticals Inc. is based in Foster City, United States. “

Other research analysts have also issued research reports about the company. Guggenheim assumed coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued a “buy” rating and a $18.00 target price on the stock. Citigroup assumed coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued a “buy” rating and a $21.00 target price on the stock. Evercore ISI assumed coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued an “outperform” rating and a $25.00 target price on the stock. Roth Capital started coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Raymond James started coverage on Mirum Pharmaceuticals in a research report on Monday, August 12th. They set an “outperform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $22.25.

MIRM stock opened at $7.37 on Tuesday. Mirum Pharmaceuticals has a twelve month low of $6.80 and a twelve month high of $15.50. The firm has a 50 day moving average of $8.53.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, November 6th. The company reported ($0.84) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.25). On average, sell-side analysts forecast that Mirum Pharmaceuticals will post -4.84 EPS for the current fiscal year.

In other news, SVP Ian Clements bought 4,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $11.51 per share, with a total value of $46,040.00. Also, Director Laurent Fischer bought 4,650 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $10.60 per share, with a total value of $49,290.00. Insiders acquired 21,432 shares of company stock valued at $232,684 over the last three months.

An institutional investor recently bought a new position in Mirum Pharmaceuticals stock. Dean Capital Investments Management LLC purchased a new position in Mirum Pharmaceuticals (NASDAQ:MIRM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,420 shares of the company’s stock, valued at approximately $457,000. Dean Capital Investments Management LLC owned 0.20% of Mirum Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.42% of the company’s stock.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a clinical-stage therapeutics company, develops and produces therapies for patients with cholestatic liver diseases with a focus on rare pediatric conditions. The company's lead product candidate is maralixibat, a Phase 3-ready investigational oral drug with indications, including Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).

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