Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 1-Year High – Here’s What Happened

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $107.41 and last traded at $106.2250, with a volume of 108919 shares. The stock had previously closed at $102.83.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. HC Wainwright boosted their price target on Mirum Pharmaceuticals from $102.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $110.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, December 11th. Robert W. Baird increased their target price on Mirum Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. Morgan Stanley lifted their price target on Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Wall Street Zen raised Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.17.

Mirum Pharmaceuticals Stock Performance

The stock has a market cap of $5.39 billion, a price-to-earnings ratio of -122.17 and a beta of 0.49. The company’s 50-day simple moving average is $87.83 and its 200-day simple moving average is $76.82. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 3,143 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $96.19, for a total transaction of $302,325.17. Following the sale, the chief operating officer owned 23,286 shares in the company, valued at approximately $2,239,880.34. The trade was a 11.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Peetz sold 9,108 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $103.30, for a total transaction of $940,856.40. Following the sale, the chief executive officer directly owned 160,294 shares of the company’s stock, valued at $16,558,370.20. This represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 45,136 shares of company stock worth $4,352,029. Corporate insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of large investors have recently made changes to their positions in MIRM. Janus Henderson Group PLC boosted its stake in Mirum Pharmaceuticals by 21.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock worth $479,050,000 after purchasing an additional 1,067,722 shares during the period. Eventide Asset Management LLC lifted its holdings in shares of Mirum Pharmaceuticals by 4.4% in the second quarter. Eventide Asset Management LLC now owns 2,637,485 shares of the company’s stock valued at $134,224,000 after purchasing an additional 110,485 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Mirum Pharmaceuticals by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after buying an additional 50,720 shares during the period. State Street Corp boosted its position in shares of Mirum Pharmaceuticals by 59.2% in the fourth quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after buying an additional 797,088 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Mirum Pharmaceuticals by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock valued at $112,196,000 after buying an additional 137,087 shares in the last quarter.

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.