Morgan Stanley Increases Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $57.00

Mirum Pharmaceuticals (NASDAQ:MIRMGet Free Report) had its price target hoisted by research analysts at Morgan Stanley from $53.00 to $57.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 94.87% from the company’s previous close.

A number of other research analysts also recently commented on the company. Citigroup increased their target price on Mirum Pharmaceuticals from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. SVB Leerink reduced their target price on Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Robert W. Baird increased their target price on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. Finally, JMP Securities cut their price target on Mirum Pharmaceuticals from $72.00 to $66.00 and set a “market outperform” rating on the stock in a report on Thursday, May 9th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $53.64.

Read Our Latest Analysis on Mirum Pharmaceuticals

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $29.25 on Tuesday. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $35.56. The business has a 50 day moving average price of $25.39 and a two-hundred day moving average price of $27.24. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. The firm has a market cap of $1.38 billion, a PE ratio of -7.88 and a beta of 1.10.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The business had revenue of $69.22 million for the quarter, compared to analyst estimates of $69.71 million. Sell-side analysts expect that Mirum Pharmaceuticals will post -1.39 earnings per share for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In related news, Director Saira Ramasastry sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total value of $128,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Eric Bjerkholt purchased 2,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were bought at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the transaction, the chief financial officer now owns 14,000 shares in the company, valued at $347,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The disclosure for this sale can be found here. 22.87% of the stock is owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds have recently modified their holdings of the company. AJOVista LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at $40,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth $41,000. StepStone Group LP acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth $135,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mirum Pharmaceuticals by 447.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,394 shares of the company’s stock worth $159,000 after acquiring an additional 4,408 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth $194,000.

About Mirum Pharmaceuticals

(Get Free Report)

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.

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