Mirum Pharmaceuticals’ (MIRM) “Buy” Rating Reaffirmed at HC Wainwright

Mirum Pharmaceuticals (NASDAQ:MIRM)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $66.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 49.63% from the stock’s current price.

MIRM has been the subject of a number of other research reports. Evercore ISI boosted their target price on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Citigroup lifted their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald upped their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Leerink Partners lifted their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $57.73.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM traded up $1.83 during trading on Wednesday, reaching $44.11. The stock had a trading volume of 239,471 shares, compared to its average volume of 556,473. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $45.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28. The firm’s 50 day moving average price is $39.92 and its two-hundred day moving average price is $35.73. The stock has a market cap of $2.10 billion, a PE ratio of -21.81 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 40.98%. The firm had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the previous year, the company earned ($0.57) earnings per share. The business’s revenue was up 89.4% compared to the same quarter last year. On average, research analysts forecast that Mirum Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quest Partners LLC raised its position in shares of Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after buying an additional 1,127 shares during the period. Amalgamated Bank increased its holdings in shares of Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after buying an additional 318 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $213,000. Finally, Creative Planning acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $249,000.

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.