Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives $56.27 Average Price Target from Analysts

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have been assigned an average recommendation of “Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $56.27.

MIRM has been the subject of a number of analyst reports. Evercore ISI increased 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. JMP Securities raised their price target on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 18th. Citigroup raised their price target on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley raised their price target on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, Baird R W raised shares of Mirum Pharmaceuticals to a “strong-buy” rating in a report on Monday, June 17th.

Mirum Pharmaceuticals Trading Down 0.9 %

NASDAQ:MIRM opened at $39.26 on Tuesday. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $45.23. The firm has a 50 day moving average of $40.75 and a 200 day moving average of $32.88. The company has a quick ratio of 3.09, a current ratio of 3.28 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -10.58 and a beta of 1.14.

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

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after buying an additional 432,824 shares during the period. California State Teachers Retirement System grew its position in Mirum Pharmaceuticals by 672.9% during the fourth quarter. California State Teachers Retirement System now owns 211,111 shares of the company’s stock valued at $6,232,000 after buying an additional 183,798 shares during the period. CenterBook Partners LP grew its position in Mirum Pharmaceuticals by 242.4% during the fourth quarter. CenterBook Partners LP now owns 51,837 shares of the company’s stock valued at $1,530,000 after buying an additional 36,699 shares during the period. Silvercrest Asset Management Group LLC grew its position in Mirum Pharmaceuticals by 64.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after buying an additional 63,871 shares during the period. Finally, TD Asset Management Inc acquired a new stake in Mirum Pharmaceuticals during the fourth quarter valued at $1,387,000.

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.