Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High – Here’s Why

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $49.27 and last traded at $48.65, with a volume of 84049 shares. The stock had previously closed at $46.72.

Wall Street Analyst Weigh In

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

Mirum Pharmaceuticals Stock Down 2.3 %

The company has a market capitalization of $2.28 billion, a PE ratio of -23.53 and a beta of 0.98. The company’s fifty day moving average is $43.76 and its 200-day moving average is $41.53. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the prior year, the firm posted ($0.57) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 89.4% compared to the same quarter last year. As a group, analysts predict that Mirum Pharmaceuticals, Inc. will post -1.45 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 7,489 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $320,678.98. Following the completion of the transaction, the chief executive officer now owns 119,359 shares in the company, valued at $5,110,952.38. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the sale, the senior vice president now directly owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,706 shares of company stock valued at $875,697. 22.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several large investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Mirum Pharmaceuticals by 19.9% in the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after buying an additional 297,511 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Mirum Pharmaceuticals by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock valued at $12,798,000 after purchasing an additional 17,149 shares during the period. Geode Capital Management LLC lifted its stake in shares of Mirum Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock valued at $36,519,000 after purchasing an additional 29,017 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Mirum Pharmaceuticals by 791.7% in the 3rd quarter. GSA Capital Partners LLP now owns 57,985 shares of the company’s stock worth $2,261,000 after purchasing an additional 51,482 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Mirum Pharmaceuticals by 25.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company’s stock valued at $6,021,000 after purchasing an additional 29,545 shares during the last quarter.

Mirum Pharmaceuticals Company Profile

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.