Stifel Nicolaus Begins Coverage on Mirum Pharmaceuticals (NASDAQ:MIRM)

Stifel Nicolaus initiated coverage on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $48.00 target price on the stock.

Several other analysts also recently commented on MIRM. HC Wainwright reissued a buy rating and set a $58.00 price objective on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 2nd. JMP Securities increased their price objective on shares of Mirum Pharmaceuticals from $69.00 to $72.00 and gave the company an outperform rating in a research report on Thursday, March 14th. Raymond James cut their price objective on shares of Mirum Pharmaceuticals from $78.00 to $64.00 and set a strong-buy rating on the stock in a research report on Tuesday, December 19th. SVB Leerink cut their price objective on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an outperform rating on the stock in a research report on Monday, March 18th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $35.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, February 29th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $51.70.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $23.81 on Wednesday. The firm’s 50-day moving average price is $26.89 and its 200-day moving average price is $28.49. The company has a quick ratio of 4.19, a current ratio of 4.45 and a debt-to-equity ratio of 1.23. Mirum Pharmaceuticals has a 1-year low of $23.29 and a 1-year high of $35.56.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.32). The business had revenue of $69.55 million during the quarter, compared to analysts’ expectations of $66.73 million. Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. On average, sell-side analysts anticipate that Mirum Pharmaceuticals will post -1.29 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, COO Peter Radovich sold 4,303 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt acquired 2,000 shares of the stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $25.80 per share, for a total transaction of $51,600.00. Following the purchase, the chief financial officer now directly owns 12,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, COO Peter Radovich sold 4,303 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $25.80, for a total transaction of $111,017.40. Following the completion of the transaction, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The disclosure for this sale can be found here. Company insiders own 24.06% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its stake in shares of Mirum Pharmaceuticals by 98.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 986 shares of the company’s stock worth $31,000 after purchasing an additional 488 shares during the period. AJOVista LLC bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $40,000. Wetzel Investment Advisors Inc. bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $41,000. Tower Research Capital LLC TRC raised its stake in Mirum Pharmaceuticals by 186.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,846 shares of the company’s stock worth $48,000 after acquiring an additional 1,202 shares during the period. Finally, Royal Bank of Canada raised its stake in Mirum Pharmaceuticals by 40.1% during the 2nd quarter. Royal Bank of Canada now owns 1,851 shares of the company’s stock worth $48,000 after acquiring an additional 530 shares during the period.

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.