Mirum Pharmaceuticals (NASDAQ:MIRM) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Mirum Pharmaceuticals (NASDAQ:MIRMGet Rating) from a buy rating to a hold rating in a report released on Wednesday morning, 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. “

MIRM has been the topic of several other reports. SVB Leerink lifted their price target on Mirum Pharmaceuticals from $50.00 to $52.00 and gave the company an outperform rating in a research report on Tuesday, May 24th. HC Wainwright lifted their price objective on Mirum Pharmaceuticals from $64.00 to $69.00 and gave the company a buy rating in a research note on Monday, May 23rd. Finally, Raymond James lifted their price objective on Mirum Pharmaceuticals from $70.00 to $74.00 and gave the company a strong-buy rating in a research note on Friday, March 11th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $47.67.

NASDAQ MIRM opened at $24.76 on Wednesday. Mirum Pharmaceuticals has a twelve month low of $12.82 and a twelve month high of $28.65. The firm has a market capitalization of $788.23 million, a PE ratio of -10.96 and a beta of 1.23. The stock’s 50 day moving average is $24.52 and its 200 day moving average is $20.28.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.22. Mirum Pharmaceuticals had a negative return on equity of 163.01% and a negative net margin of 218.74%. During the same quarter last year, the firm earned ($1.68) EPS. On average, research analysts predict that Mirum Pharmaceuticals will post -4.43 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its stake in shares of Mirum Pharmaceuticals by 348.7% in the fourth quarter. Citigroup Inc. now owns 1,844 shares of the company’s stock worth $29,000 after purchasing an additional 1,433 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Mirum Pharmaceuticals in the first quarter worth $41,000. Cubist Systematic Strategies LLC raised its stake in shares of Mirum Pharmaceuticals by 223.9% in the third quarter. Cubist Systematic Strategies LLC now owns 5,240 shares of the company’s stock worth $104,000 after purchasing an additional 3,622 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Mirum Pharmaceuticals by 102.3% in the fourth quarter. Bank of America Corp DE now owns 6,706 shares of the company’s stock worth $107,000 after purchasing an additional 3,391 shares during the last quarter. Finally, Congress Wealth Management LLC DE purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth $160,000. Hedge funds and other institutional investors own 87.68% of the company’s stock.

Mirum Pharmaceuticals Company Profile (Get Rating)

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. The company's lead product candidate is LIVMARLI, an investigational oral drug for the treatment of progressive familial intrahepatic cholestasis disease, as well as for the treatment of Alagille syndrome and biliary atresia disease.

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