Citigroup Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target lifted by Citigroup from $65.00 to $68.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 56.18% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Leerink Partners raised their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald raised their price target on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Evercore ISI raised their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird upped their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $57.73.

Mirum Pharmaceuticals Stock Up 3.0 %

NASDAQ:MIRM traded up $1.26 during midday trading on Wednesday, reaching $43.54. The company had a trading volume of 173,435 shares, compared to its average volume of 556,130. The stock’s fifty day simple moving average is $39.92 and its 200-day simple moving average is $35.73. The company has a current ratio of 3.28, a quick ratio of 3.09 and a debt-to-equity ratio of 1.34. Mirum Pharmaceuticals has a 12-month low of $23.14 and a 12-month high of $45.81. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -21.63 and a beta of 1.16.

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

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC increased its position in Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after acquiring an additional 1,127 shares during the period. Amalgamated Bank grew its stake 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. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after purchasing an additional 318 shares during the period. ProShare Advisors LLC purchased a new stake in shares of Mirum Pharmaceuticals during the second quarter worth approximately $213,000. Finally, Creative Planning acquired a new stake in shares of Mirum Pharmaceuticals during the third quarter worth $249,000.

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.