Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 52-Week High Following Analyst Upgrade

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) reached a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $95.00 to $123.00. Morgan Stanley currently has an overweight rating on the stock. Mirum Pharmaceuticals traded as high as $105.11 and last traded at $102.94, with a volume of 104110 shares. The stock had previously closed at $103.22.

Other equities research analysts have also recently issued research reports about the company. JMP Securities set a $95.00 price target on Mirum Pharmaceuticals in a report on Wednesday, November 5th. Citizens Jmp upped their target price on Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a report on Friday, December 19th. HC Wainwright raised their price target on Mirum Pharmaceuticals from $102.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Robert W. Baird boosted their price objective on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. Finally, Stifel Nicolaus increased their price objective on shares of Mirum Pharmaceuticals from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.25.

Insider Transactions at Mirum Pharmaceuticals

In other news, Director Patrick J. Heron acquired 131,425 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was acquired at an average price of $68.48 per share, with a total value of $8,999,984.00. Following the completion of the transaction, the director directly owned 459,010 shares in the company, valued at approximately $31,433,004.80. This represents a 40.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joanne Quan sold 6,911 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $90.27, for a total transaction of $623,855.97. Following the transaction, the insider directly owned 11,305 shares in the company, valued at $1,020,502.35. The trade was a 37.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,429 shares of company stock worth $3,039,396 in the last ninety days. Company insiders own 14.36% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. CWM LLC increased its stake in Mirum Pharmaceuticals by 30.8% in the third quarter. CWM LLC now owns 683 shares of the company’s stock valued at $50,000 after purchasing an additional 161 shares during the last quarter. Legal & General Group Plc boosted its stake in Mirum Pharmaceuticals by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock worth $2,189,000 after buying an additional 176 shares during the last quarter. MCF Advisors LLC grew its holdings in Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after buying an additional 185 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Mirum Pharmaceuticals by 2.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company’s stock valued at $504,000 after acquiring an additional 215 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Mirum Pharmaceuticals by 34.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock worth $70,000 after acquiring an additional 243 shares during the period.

Mirum Pharmaceuticals Stock Performance

The company’s fifty day moving average price is $80.92 and its two-hundred day moving average price is $72.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.16 and a current ratio of 3.31. The firm has a market capitalization of $5.33 billion, a PE ratio of -120.70 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.15. The firm had revenue of $133.01 million during the quarter, compared to analyst estimates of $130.11 million. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. Mirum Pharmaceuticals’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.30) earnings per share. As a group, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.