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

Mirum Pharmaceuticals (NASDAQ:MIRM)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $66.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 49.63% from the stock’s previous close.

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

Mirum Pharmaceuticals Stock Up 4.3 %

Shares of Mirum Pharmaceuticals stock traded up $1.83 on Wednesday, hitting $44.11. The company had a trading volume of 239,471 shares, compared to its average volume of 556,473. The stock has a 50-day moving average of $39.92 and a 200-day moving average of $35.73. Mirum Pharmaceuticals has a twelve month low of $23.14 and a twelve month high of $45.81. The firm has a market capitalization of $2.10 billion, a P/E ratio of -21.81 and a beta of 1.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.28 and a quick ratio of 3.09.

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

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Loomis Sayles & Co. L P acquired a new position in Mirum Pharmaceuticals in the third quarter worth $19,473,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Mirum Pharmaceuticals by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock worth $12,798,000 after buying an additional 17,149 shares during the period. HealthInvest Partners AB raised its holdings in shares of Mirum Pharmaceuticals by 83.9% during the third quarter. HealthInvest Partners AB now owns 138,321 shares of the company’s stock worth $5,395,000 after acquiring an additional 63,121 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $497,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Mirum Pharmaceuticals by 46.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,375 shares of the company’s stock worth $2,628,000 after buying an additional 21,526 shares during the last quarter.

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.