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

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

Analyst Ratings Changes

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

Mirum Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $42.95 and its 200 day simple moving average is $40.77. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $2.11 billion, a PE ratio of -21.78 and a beta of 0.98.

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

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at $114,264.60. The trade was a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Peetz sold 7,489 shares of the 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 sale, the chief executive officer now directly owns 119,359 shares of the company’s stock, valued at approximately $5,110,952.38. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,737 shares of company stock valued at $556,098. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MIRM. Lord Abbett & CO. LLC purchased a new stake in shares of Mirum Pharmaceuticals in the third quarter worth about $28,913,000. Geode Capital Management LLC boosted its holdings in Mirum Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock worth $36,519,000 after acquiring an additional 29,017 shares during the period. Frazier Life Sciences Management L.P. grew its position in Mirum Pharmaceuticals by 1.2% in the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock valued at $256,245,000 after acquiring an additional 75,000 shares in the last quarter. Barclays PLC raised its stake in shares of Mirum Pharmaceuticals by 4.6% during the third quarter. Barclays PLC now owns 245,918 shares of the company’s stock valued at $9,592,000 after purchasing an additional 10,824 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Mirum Pharmaceuticals during the third quarter valued at approximately $215,000.

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.