Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 12-Month High After Analyst Upgrade

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price hit a new 52-week high during mid-day trading on Tuesday after HC Wainwright raised their price target on the stock from $102.00 to $130.00. HC Wainwright currently has a buy rating on the stock. Mirum Pharmaceuticals traded as high as $98.49 and last traded at $96.92, with a volume of 882340 shares trading hands. The stock had previously closed at $94.29.

Several other research firms have also issued reports on MIRM. Evercore ISI restated an “outperform” rating and set a $101.00 price target on shares of Mirum Pharmaceuticals in a research report on Tuesday, January 20th. Wall Street Zen raised Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Stifel Nicolaus lifted their target price on shares of Mirum Pharmaceuticals from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Robert W. Baird upped their price target on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, December 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $104.92.

Insider Activity at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt sold 1,421 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $93.33, for a total value of $132,621.93. Following the completion of the sale, the chief financial officer owned 42,127 shares of the company’s stock, valued at $3,931,712.91. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jolanda Howe sold 926 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $93.33, for a total transaction of $86,423.58. Following the completion of the sale, the senior vice president directly owned 3,042 shares of the company’s stock, valued at approximately $283,909.86. This represents a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,560 shares of company stock valued at $1,897,717 over the last 90 days. Company insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MIRM. Emerald Advisers LLC grew its stake in Mirum Pharmaceuticals by 20.9% in the third quarter. Emerald Advisers LLC now owns 369,600 shares of the company’s stock worth $27,095,000 after purchasing an additional 63,834 shares during the period. Jump Financial LLC lifted its position in Mirum Pharmaceuticals by 839.7% during the second quarter. Jump Financial LLC now owns 148,689 shares of the company’s stock valued at $7,567,000 after buying an additional 132,866 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter valued at $1,728,000. Eventide Asset Management LLC grew its position in shares of Mirum Pharmaceuticals by 4.4% in the 2nd quarter. Eventide Asset Management LLC now owns 2,637,485 shares of the company’s stock worth $134,224,000 after buying an additional 110,485 shares during the period. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth about $11,071,000.

Mirum Pharmaceuticals Stock Performance

The company has a market capitalization of $4.98 billion, a P/E ratio of -112.70 and a beta of 0.48. The company’s 50 day moving average is $77.82 and its 200-day moving average is $71.21. The company has a current ratio of 3.31, a quick ratio of 3.16 and a debt-to-equity ratio of 1.06.

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