HC Wainwright Reiterates “Buy” Rating for Mirum Pharmaceuticals (NASDAQ:MIRM)

HC Wainwright reiterated their buy rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research note published on Friday morning, Benzinga reports. The firm currently has a $66.00 price objective on the stock.

MIRM has been the subject of several other reports. JMP Securities lifted their target price on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a market outperform rating in a research report on Tuesday, June 18th. Evercore ISI upped their target price on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. Cantor Fitzgerald raised their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Robert W. Baird boosted their price target on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an outperform rating in a report on Thursday, August 8th. Finally, Morgan Stanley raised their price objective on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an overweight rating in a report on Tuesday, June 18th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mirum Pharmaceuticals currently has an average rating of Buy and a consensus target price of $56.27.

Mirum Pharmaceuticals Price Performance

Shares of Mirum Pharmaceuticals stock opened at $39.77 on Friday. The stock has a 50 day moving average price of $40.61 and a 200-day moving average price of $33.49. Mirum Pharmaceuticals has a one year low of $23.14 and a one year high of $45.23. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -10.72 and a beta of 1.14. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The firm had revenue of $77.90 million for the quarter, compared to the consensus estimate of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 40.34% and a negative return on equity of 43.47%. The business’s revenue for the quarter was up 107.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.92) earnings per share. Equities analysts expect that Mirum Pharmaceuticals will post -1.75 EPS for the current year.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors have recently made changes to their positions in MIRM. Quest Partners LLC raised its stake in Mirum Pharmaceuticals by 7,513.3% in the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after buying an additional 1,127 shares during the last quarter. Amalgamated Bank raised its position in shares of Mirum Pharmaceuticals by 60.8% in the 2nd 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 last quarter. ProShare Advisors LLC purchased a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $213,000. China Universal Asset Management Co. Ltd. boosted its stake in Mirum Pharmaceuticals by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,952 shares of the company’s stock worth $225,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Creative Planning purchased a new stake in Mirum Pharmaceuticals during the 3rd quarter worth approximately $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.