Evercore ISI Increases Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $66.00

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by research analysts at Evercore ISI from $62.00 to $66.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 64.92% from the company’s previous close.

MIRM has been the subject of several other research reports. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities raised their price objective on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a report on Tuesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. JPMorgan Chase & Co. lifted their price target on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, Citigroup lifted their price target on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $56.27.

Mirum Pharmaceuticals Stock Up 0.4 %

Shares of MIRM traded up $0.15 during midday trading on Thursday, hitting $40.02. The stock had a trading volume of 375,533 shares, compared to its average volume of 634,035. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -10.79 and a beta of 1.15. The company has a 50 day simple moving average of $34.67 and a two-hundred day simple moving average of $29.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.68 and a quick ratio of 3.47. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $44.70.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The company had revenue of $77.90 million during the quarter, compared to the consensus estimate of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. Mirum Pharmaceuticals’s revenue was up 107.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.92) EPS. On average, analysts anticipate that Mirum Pharmaceuticals will post -1.66 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares in the company, valued at approximately $931,804. The disclosure for this sale can be found here. Insiders sold a total of 35,934 shares of company stock worth $1,180,156 over the last three months. Corporate insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC grew its stake in shares of Mirum Pharmaceuticals by 7,513.3% during the second 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 last quarter. AJOVista LLC bought a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $40,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth $41,000. StepStone Group LP bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth $135,000. Finally, NEOS Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth $220,000.

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.