Mirum Pharmaceuticals (NASDAQ:MIRM) Raised to “Hold” at Zacks Investment Research

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Mirum Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. The company’s product candidate consists of maralixibat, an investigational oral drug in development for progressive familial intrahepatic cholestasis and Alagille syndrome. Mirum Pharmaceuticals Inc. is based in Foster City, United States. “

Several other research firms have also issued reports on MIRM. Roth Capital started coverage on Mirum Pharmaceuticals in a research report on Monday, August 12th. They set a “buy” rating and a $33.00 price target on the stock. Guggenheim started coverage on Mirum Pharmaceuticals in a research report on Monday, August 12th. They set a “buy” rating and a $18.00 price target on the stock. Citigroup started coverage on Mirum Pharmaceuticals in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 price target on the stock. Raymond James started coverage on Mirum Pharmaceuticals in a research report on Monday, August 12th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Evercore ISI started coverage on Mirum Pharmaceuticals in a research report on Monday, August 12th. They set an “outperform” rating and a $25.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.25.

MIRM stock opened at $7.48 on Tuesday. The company has a current ratio of 11.85, a quick ratio of 7.64 and a debt-to-equity ratio of 0.01. Mirum Pharmaceuticals has a 12-month low of $6.80 and a 12-month high of $15.50. The firm’s 50 day moving average price is $8.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.25). Sell-side analysts expect that Mirum Pharmaceuticals will post -4.84 earnings per share for the current year.

In related news, CEO Christopher Peetz acquired 9,070 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $11.02 per share, for a total transaction of $99,951.40. Also, SVP Ian Clements acquired 4,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $11.51 per share, with a total value of $46,040.00. Over the last 90 days, insiders have purchased 21,432 shares of company stock valued at $232,684.

A hedge fund recently bought a new stake in Mirum Pharmaceuticals stock. Dean Capital Investments Management LLC acquired a new position in shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 45,420 shares of the company’s stock, valued at approximately $457,000. Dean Capital Investments Management LLC owned about 0.20% of Mirum Pharmaceuticals at the end of the most recent reporting period. 34.35% of the stock is currently owned by institutional investors and hedge funds.

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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