Raymond James Financial Services Advisors Inc. Sells 1,370 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Raymond James Financial Services Advisors Inc. reduced its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,029 shares of the company’s stock after selling 1,370 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.10% of Mirum Pharmaceuticals worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MIRM. Panagora Asset Management Inc. grew its stake in Mirum Pharmaceuticals by 3.6% in the 1st quarter. Panagora Asset Management Inc. now owns 69,486 shares of the company’s stock worth $1,530,000 after acquiring an additional 2,427 shares in the last quarter. BlackRock Inc. grew its stake in Mirum Pharmaceuticals by 1.4% in the 1st quarter. BlackRock Inc. now owns 782,830 shares of the company’s stock worth $17,238,000 after acquiring an additional 10,732 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the 1st quarter worth approximately $440,000. Prudential Financial Inc. lifted its position in shares of Mirum Pharmaceuticals by 25.4% in the 1st quarter. Prudential Financial Inc. now owns 80,300 shares of the company’s stock worth $1,768,000 after purchasing an additional 16,270 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in shares of Mirum Pharmaceuticals in the 1st quarter worth approximately $456,000.

Wall Street Analysts Forecast Growth

MIRM has been the subject of several research reports. Cantor Fitzgerald initiated coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday, October 24th. They issued an “overweight” rating and a $50.00 price target for the company. Robert W. Baird upped their price target on shares of Mirum Pharmaceuticals from $35.00 to $38.00 in a research report on Tuesday, October 3rd. Raymond James lowered their price target on shares of Mirum Pharmaceuticals from $84.00 to $77.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $63.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, September 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $62.00 price target on shares of Mirum Pharmaceuticals in a research report on Tuesday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $51.44.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, Director Michael G. Grey sold 14,216 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $32.00, for a total value of $454,912.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Mirum Pharmaceuticals news, Director Michael G. Grey sold 14,216 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $32.00, for a total value of $454,912.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick J. Heron purchased 147,991 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was bought at an average cost of $26.25 per share, with a total value of $3,884,763.75. Following the acquisition, the director now owns 147,991 shares of the company’s stock, valued at approximately $3,884,763.75. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 162,678 shares of company stock valued at $4,323,280. Insiders own 24.06% of the company’s stock.

Mirum Pharmaceuticals Trading Down 1.5 %

NASDAQ:MIRM opened at $27.14 on Friday. Mirum Pharmaceuticals, Inc. has a 52 week low of $17.49 and a 52 week high of $33.39. The firm has a 50 day moving average of $28.94 and a 200 day moving average of $27.29. The company has a quick ratio of 6.44, a current ratio of 6.59 and a debt-to-equity ratio of 3.89. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.71 and a beta of 1.17.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.11). The company had revenue of $37.50 million during the quarter, compared to analysts’ expectations of $30.00 million. Mirum Pharmaceuticals had a negative return on equity of 103.59% and a negative net margin of 152.27%. As a group, sell-side analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.55 earnings per share for the current fiscal year.

Mirum Pharmaceuticals Profile

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.