Frazier Life Sciences Management L.P. Has $256.25 Million Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Frazier Life Sciences Management L.P. boosted its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,570,392 shares of the company’s stock after buying an additional 75,000 shares during the quarter. Mirum Pharmaceuticals makes up about 10.3% of Frazier Life Sciences Management L.P.’s holdings, making the stock its largest position. Frazier Life Sciences Management L.P. owned about 13.69% of Mirum Pharmaceuticals worth $256,245,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates raised its position in shares of Mirum Pharmaceuticals by 10.5% in the second quarter. Raymond James & Associates now owns 144,214 shares of the company’s stock valued at $4,931,000 after purchasing an additional 13,651 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Mirum Pharmaceuticals by 64.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company’s stock valued at $3,582,000 after acquiring an additional 41,236 shares during the period. Secure Asset Management LLC raised its holdings in Mirum Pharmaceuticals by 8.6% during the 2nd quarter. Secure Asset Management LLC now owns 45,904 shares of the company’s stock valued at $1,569,000 after acquiring an additional 3,630 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Mirum Pharmaceuticals by 48.2% during the second quarter. Bank of New York Mellon Corp now owns 143,000 shares of the company’s stock worth $4,889,000 after acquiring an additional 46,506 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Mirum Pharmaceuticals by 17.1% in the second quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the company’s stock worth $480,000 after acquiring an additional 2,050 shares during the period.

Mirum Pharmaceuticals Trading Down 3.0 %

Shares of MIRM opened at $43.31 on Tuesday. Mirum Pharmaceuticals, Inc. has a 1-year low of $23.14 and a 1-year high of $48.89. The company has a market capitalization of $2.08 billion, a P/E ratio of -21.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The firm’s 50 day simple moving average is $41.57 and its 200 day simple moving average is $38.19.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating 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 firm had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. During the same quarter last year, the company posted ($0.57) EPS. The business’s quarterly revenue was up 89.4% on a year-over-year basis. Sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MIRM. Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Leerink Partners increased their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Citigroup boosted their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $57.73.

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.