TD Asset Management Inc Purchases New Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

TD Asset Management Inc purchased a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRMFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 47,000 shares of the company’s stock, valued at approximately $1,387,000. TD Asset Management Inc owned 0.10% of Mirum Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Mirum Pharmaceuticals by 18.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 266,681 shares of the company’s stock valued at $7,872,000 after purchasing an additional 42,110 shares during the period. Polar Capital Holdings Plc increased its holdings in Mirum Pharmaceuticals by 27.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,175,000 shares of the company’s stock valued at $37,130,000 after purchasing an additional 250,000 shares during the period. Rafferty Asset Management LLC increased its holdings in Mirum Pharmaceuticals by 18.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 137,205 shares of the company’s stock valued at $4,336,000 after purchasing an additional 21,312 shares during the period. Genworth Financial Inc purchased a new position in Mirum Pharmaceuticals during the 4th quarter valued at about $385,000. Finally, Franklin Resources Inc. increased its holdings in Mirum Pharmaceuticals by 22.6% during the 4th quarter. Franklin Resources Inc. now owns 913,068 shares of the company’s stock valued at $26,954,000 after purchasing an additional 168,446 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. SVB Leerink reduced their target price on Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Stifel Nicolaus assumed coverage on Mirum Pharmaceuticals in a report on Wednesday, April 17th. They set a “buy” rating and a $48.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. JMP Securities reduced their target price on Mirum Pharmaceuticals from $72.00 to $66.00 and set a “market outperform” rating on the stock in a report on Thursday, May 9th. Finally, Morgan Stanley reduced their target price on Mirum Pharmaceuticals from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $49.73.

Read Our Latest Stock Analysis on MIRM

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $25.07 on Monday. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average price is $25.03 and its 200-day moving average price is $27.44. Mirum Pharmaceuticals, Inc. has a 52 week low of $23.14 and a 52 week high of $35.56. The stock has a market cap of $1.18 billion, a P/E ratio of -6.76 and a beta of 1.10.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). The company had revenue of $69.22 million during the quarter, compared to the consensus estimate of $69.71 million. Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. Equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.39 earnings per share for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In related news, Director Saira Ramasastry sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total value of $128,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Eric Bjerkholt purchased 2,000 shares of the stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $25.80 per share, with a total value of $51,600.00. Following the acquisition, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The disclosure for this sale can be found here. 22.87% of the stock is currently owned by insiders.

About Mirum Pharmaceuticals

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Mirum Pharmaceuticals (NASDAQ:MIRM)

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