Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 12-Month High – Here’s Why

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) hit a new 52-week high on Wednesday . The stock traded as high as $115.00 and last traded at $114.73, with a volume of 284563 shares traded. The stock had previously closed at $111.07.

Analyst Ratings Changes

Several research firms have recently issued reports on MIRM. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Weiss Ratings cut shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. HC Wainwright restated a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. CLSA set a $146.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Finally, Wall Street Zen cut Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.80.

Mirum Pharmaceuticals Stock Performance

The company has a market cap of $7.14 billion, a PE ratio of -8.62 and a beta of 0.50. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The business has a fifty day simple moving average of $99.97 and a two-hundred day simple moving average of $93.58.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The business had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.Mirum Pharmaceuticals’s revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) EPS. Research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $93.82, for a total value of $469,100.00. Following the completion of the transaction, the chief financial officer directly owned 44,788 shares in the company, valued at $4,202,010.16. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the completion of the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 37,594 shares of company stock worth $3,608,758. 8.32% of the stock is currently owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA grew its position in shares of Mirum Pharmaceuticals by 66.9% during the 1st quarter. Glenmede Trust Co. NA now owns 5,532 shares of the company’s stock valued at $511,000 after acquiring an additional 2,217 shares during the period. Janus Henderson Group PLC grew its stake in Mirum Pharmaceuticals by 14.5% in the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after acquiring an additional 880,505 shares during the period. ADAR1 Capital Management LLC purchased a new stake in Mirum Pharmaceuticals in the 1st quarter worth $573,000. California State Teachers Retirement System increased its holdings in Mirum Pharmaceuticals by 22.1% in the 1st quarter. California State Teachers Retirement System now owns 44,476 shares of the company’s stock worth $4,109,000 after acquiring an additional 8,065 shares in the last quarter. Finally, Rock Springs Capital Management LP raised its position in Mirum Pharmaceuticals by 6.4% during the first quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company’s stock worth $74,947,000 after acquiring an additional 49,000 shares during the period.

About Mirum Pharmaceuticals

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.