Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 1-Year High – Here’s Why

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.58 and last traded at $48.54, with a volume of 326605 shares trading hands. The stock had previously closed at $48.48.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Leerink Partners lifted their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. HC Wainwright reissued a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Robert W. Baird increased their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Citigroup upped their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $57.10.

Mirum Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm has a fifty day simple moving average of $44.12 and a 200 day simple moving average of $41.80. The company has a market capitalization of $2.33 billion, a PE ratio of -23.98 and a beta of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted ($0.57) earnings per share. The business’s revenue for the quarter was up 89.4% on a year-over-year basis. Equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.45 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were 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 approximately $114,264.60. This trade represents a 50.75 % 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 7,489 shares of Mirum Pharmaceuticals 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 directly owns 119,359 shares in the company, valued at approximately $5,110,952.38. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,622 shares of company stock valued at $1,398,791 over the last ninety days. 22.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently bought and sold shares of MIRM. Frazier Life Sciences Management L.P. lifted its holdings in shares of Mirum Pharmaceuticals by 1.2% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock valued at $256,245,000 after purchasing an additional 75,000 shares during the last quarter. State Street Corp raised its stake in Mirum Pharmaceuticals by 19.9% in the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after buying an additional 297,511 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mirum Pharmaceuticals by 3.2% in the third 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 in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Mirum Pharmaceuticals during the third quarter worth about $28,913,000. Finally, Clearbridge Investments LLC increased its holdings in shares of Mirum Pharmaceuticals by 165.5% during the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after acquiring an additional 436,349 shares in the last quarter.

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.