Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 52-Week High After Analyst Upgrade

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) reached a new 52-week high on Tuesday after HC Wainwright raised their price target on the stock from $102.00 to $130.00. HC Wainwright currently has a buy rating on the stock. Mirum Pharmaceuticals traded as high as $98.49 and last traded at $96.92, with a volume of 882340 shares trading hands. The stock had previously closed at $94.29.

Several other equities analysts also recently weighed in on the company. Wall Street Zen upgraded Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Citizens Jmp increased their price objective on shares of Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a research report on Friday, December 19th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. Stifel Nicolaus upped their target price on shares of Mirum Pharmaceuticals from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Leerink Partners set a $100.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 926 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $93.33, for a total transaction of $86,423.58. Following the transaction, the senior vice president owned 3,042 shares in the company, valued at approximately $283,909.86. This represents a 23.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric Bjerkholt sold 1,421 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $93.33, for a total transaction of $132,621.93. Following the sale, the chief financial officer directly owned 42,127 shares in the company, valued at approximately $3,931,712.91. The trade was a 3.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 20,560 shares of company stock worth $1,897,717 in the last quarter. Insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Mirum Pharmaceuticals by 30.8% during the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock valued at $50,000 after buying an additional 161 shares during the period. Legal & General Group Plc increased its position in Mirum Pharmaceuticals by 0.4% during the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock valued at $2,189,000 after acquiring an additional 176 shares during the last quarter. MCF Advisors LLC increased its position in Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Mirum Pharmaceuticals by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company’s stock valued at $504,000 after acquiring an additional 215 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Mirum Pharmaceuticals by 34.0% in the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock worth $70,000 after purchasing an additional 243 shares during the last quarter.

Mirum Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $77.82 and a 200-day simple moving average of $71.21. The firm has a market capitalization of $4.98 billion, a PE ratio of -112.70 and a beta of 0.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.31 and a quick ratio of 3.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.15. The firm had revenue of $133.01 million for the quarter, compared to analysts’ expectations of $130.11 million. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. The business’s quarterly revenue was up 47.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) EPS. As a group, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

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.