Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 6% – Still a Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price traded up 6% on Monday . The company traded as high as $43.85 and last traded at $43.79. 323,240 shares changed hands during trading, a decline of 17% from the average session volume of 390,612 shares. The stock had previously closed at $41.32.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MIRM. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Leerink Partners lifted their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup lifted their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $57.10.

Mirum Pharmaceuticals Stock Up 6.9 %

The business has a 50 day simple moving average of $43.07 and a 200-day simple moving average of $40.91. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -22.94 and a beta of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period in the previous year, the firm earned ($0.57) earnings per share. Mirum Pharmaceuticals’s quarterly revenue was up 89.4% compared to the same quarter last year. On average, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.46 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the transaction, the senior vice president now owns 2,426 shares of the company’s stock, valued at $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Peetz sold 7,489 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $320,678.98. Following the completion of the sale, the chief executive officer now directly owns 119,359 shares in the company, valued at $5,110,952.38. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,737 shares of company stock worth $556,098. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC raised its holdings in shares of Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after buying an additional 1,127 shares during the period. Amalgamated Bank grew its position in Mirum Pharmaceuticals by 60.8% in the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Mirum Pharmaceuticals by 22.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after purchasing an additional 318 shares during the period. Avanza Fonder AB acquired a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth about $189,000. Finally, ProShare Advisors LLC purchased a new position in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $213,000.

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.