Fintel reports that on October 9, 2023, JMP Securities reiterated coverage of Mirum Pharmaceuticals (NASDAQ:MIRM) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 89.20% Upside
As of October 5, 2023, the average one-year price target for Mirum Pharmaceuticals is 56.61. The forecasts range from a low of 34.34 to a high of $88.20. The average price target represents an increase of 89.20% from its latest reported closing price of 29.92.
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The projected annual revenue for Mirum Pharmaceuticals is 147MM, an increase of 27.31%. The projected annual non-GAAP EPS is -2.94.
What is the Fund Sentiment?
There are 286 funds or institutions reporting positions in Mirum Pharmaceuticals. This is an increase of 42 owner(s) or 17.21% in the last quarter. Average portfolio weight of all funds dedicated to MIRM is 0.36%, a decrease of 12.67%. Total shares owned by institutions increased in the last three months by 10.94% to 41,652K shares. 
The put/call ratio of MIRM is 0.63, indicating a bullish outlook.
What are Other Shareholders Doing?
Frazier Life Sciences Management holds 4,360K shares representing 11.38% ownership of the company. In it's prior filing, the firm reported owning 3,860K shares, representing an increase of 11.47%. The firm increased its portfolio allocation in MIRM by 0.34% over the last quarter.
Eventide Asset Management holds 3,459K shares representing 9.03% ownership of the company. In it's prior filing, the firm reported owning 2,059K shares, representing an increase of 40.47%. The firm increased its portfolio allocation in MIRM by 66.66% over the last quarter.
NEA Management Company holds 2,186K shares representing 5.71% ownership of the company. In it's prior filing, the firm reported owning 4,186K shares, representing a decrease of 91.48%. The firm decreased its portfolio allocation in MIRM by 37.88% over the last quarter.
ETAHX - Eventide Healthcare & Life Sciences Fund Shares holds 2,059K shares representing 5.38% ownership of the company. No change in the last quarter.
Rock Springs Capital Management holds 1,821K shares representing 4.75% ownership of the company. In it's prior filing, the firm reported owning 1,796K shares, representing an increase of 1.37%. The firm increased its portfolio allocation in MIRM by 8.89% over the last quarter.
Mirum Pharmaceuticals Background Information
(This description is provided by the company.)
Mirum Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Mirum's lead product candidate, maralixibat, is an investigational oral drug in development for Alagille syndrome (ALGS), progressive familial intrahepatic cholestasis (PFIC), and biliary atresia. Mirum has submitted an NDA for maralixibat in the treatment of cholestatic pruritus in patients with ALGS. Additionally, Mirum's marketing authorization application for the treatment of pediatric patients with PFIC2 has been accepted for review (validated) by the European Medicines Agency.
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