Analysts Set Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Target Price at $56.27

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) have been given a consensus rating of “Buy” by the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $56.27.

Several brokerages recently issued reports on MIRM. Morgan Stanley boosted their price target on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Cantor Fitzgerald boosted their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Citigroup raised their target price on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JMP Securities boosted their price target on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” 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.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Quest Partners LLC boosted its position 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 in the last quarter. Amalgamated Bank increased its holdings in shares of Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after buying an additional 513 shares in the last quarter. StepStone Group LP bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $135,000. ProShare Advisors LLC acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $213,000. Finally, NEOS Investment Management LLC bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $220,000.

Mirum Pharmaceuticals Trading Down 1.3 %

Shares of Mirum Pharmaceuticals stock opened at $38.75 on Tuesday. Mirum Pharmaceuticals has a 1 year low of $23.14 and a 1 year high of $45.23. The company’s fifty day simple moving average is $40.75 and its 200-day simple moving average is $32.92. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -10.44 and a beta of 1.14. 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 (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) 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 analyst estimates of $75.03 million. Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The business’s revenue for the quarter was up 107.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.92) earnings per share. As a group, sell-side analysts expect that Mirum Pharmaceuticals will post -1.75 EPS for the current year.

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.