Mirum Pharmaceuticals’ (NASDAQ:MIRM) Quiet Period Set To Expire Tomorrow

Mirum Pharmaceuticals’ (NASDAQ:MIRM) quiet period will end on Tuesday, August 27th. Mirum Pharmaceuticals had issued 5,000,000 shares in its IPO on July 18th. The total size of the offering was $75,000,000 based on an initial share price of $15.00. During Mirum Pharmaceuticals’ quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

MIRM has been the subject of a number of recent analyst reports. Raymond James initiated coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued an “outperform” rating and a $28.00 price objective for the company. Guggenheim began coverage on Mirum Pharmaceuticals in a research note on Monday, August 12th. They issued a “buy” rating and a $18.00 target price for the company. Citigroup began coverage on Mirum Pharmaceuticals in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 target price for the company. Evercore ISI began coverage on Mirum Pharmaceuticals in a research note on Monday, August 12th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Roth Capital began coverage on Mirum Pharmaceuticals in a research note on Monday, August 12th. They issued a “buy” rating and a $33.00 target price for the company. Five research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $25.00.

NASDAQ:MIRM opened at $14.18 on Monday. Mirum Pharmaceuticals has a 1 year low of $12.05 and a 1 year high of $15.50.

In other Mirum Pharmaceuticals news, Director Patrick J. Heron bought 450,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was purchased at an average cost of $15.00 per share, with a total value of $6,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Flynn bought 332,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was acquired at an average cost of $15.00 per share, with a total value of $4,980,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,357,000 shares of company stock valued at $20,355,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a clinical-stage therapeutics company, develops and produces therapies for patients with cholestatic liver diseases with a focus on rare pediatric conditions. The company's lead product candidate is maralixibat, a Phase 3-ready investigational oral drug with indications, including Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).

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