Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 12-Month Low at $23.14

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.14 and last traded at $23.47, with a volume of 36618 shares traded. The stock had previously closed at $24.02.

Wall Street Analysts Forecast Growth

MIRM has been the topic of a number of recent analyst reports. 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 note on Monday, March 18th. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, February 29th. Stifel Nicolaus initiated coverage on shares of Mirum Pharmaceuticals in a report on Wednesday, April 17th. They issued a “buy” rating and a $48.00 price objective for the company. JMP Securities raised their price objective on shares of Mirum Pharmaceuticals from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Finally, HC Wainwright restated a “buy” rating and issued a $58.00 target price on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $51.70.

Mirum Pharmaceuticals Stock Down 0.1 %

The stock has a fifty day moving average of $26.42 and a 200-day moving average of $28.30. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.16 and a beta of 1.14. The company has a current ratio of 4.45, a quick ratio of 4.19 and a debt-to-equity ratio of 1.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly 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). Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. The company had revenue of $69.55 million during the quarter, compared to analysts’ expectations of $66.73 million. As a group, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.29 EPS for the current year.

Insider Activity

In related news, COO Peter Radovich sold 4,303 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 29,013 shares of the company’s stock, valued at approximately $748,535.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were bought at an average price of $24.80 per share, for a total transaction of $49,600.00. Following the acquisition, the chief financial officer now directly owns 14,000 shares of the company’s stock, valued at $347,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief operating officer now directly owns 29,013 shares of the company’s stock, valued at $748,535.40. The disclosure for this sale can be found here. 24.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MIRM. Frazier Life Sciences Management L.P. grew its holdings in shares of Mirum Pharmaceuticals by 0.4% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 6,495,392 shares of the company’s stock valued at $191,744,000 after acquiring an additional 25,000 shares in the last quarter. Eventide Asset Management LLC boosted its position in Mirum Pharmaceuticals by 14.4% during the third quarter. Eventide Asset Management LLC now owns 3,958,579 shares of the company’s stock valued at $125,091,000 after purchasing an additional 499,378 shares during the last quarter. Cadian Capital Management LP grew its stake in Mirum Pharmaceuticals by 34.8% in the fourth quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock valued at $57,119,000 after purchasing an additional 500,000 shares in the last quarter. Vanguard Group Inc. increased its position in Mirum Pharmaceuticals by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,693,343 shares of the company’s stock worth $53,510,000 after purchasing an additional 98,685 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its position in Mirum Pharmaceuticals by 27.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,175,000 shares of the company’s stock worth $37,130,000 after purchasing an additional 250,000 shares during the last quarter.

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.