Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 52-Week High – What’s Next?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $125.39 and last traded at $123.00, with a volume of 964233 shares traded. The stock had previously closed at $123.77.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MIRM shares. HC Wainwright restated a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Morgan Stanley increased their target price on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. TD Cowen raised their price target on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.80.

Mirum Pharmaceuticals Trading Down 0.6%

The firm has a market capitalization of $7.50 billion, a P/E ratio of -9.04 and a beta of 0.50. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The firm’s 50-day simple moving average is $101.05 and its 200-day simple moving average is $94.37.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The company had revenue of $159.88 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 43.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) EPS. Analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Insider Transactions at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,594 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $101.95, for a total value of $264,458.30. Following the completion of the transaction, the senior vice president directly owned 5,835 shares in the company, valued at approximately $594,878.25. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00. Following the completion of the transaction, the chief financial officer owned 44,788 shares of the company’s stock, valued at $4,202,010.16. This trade represents a 10.04% decrease in their ownership of the stock. 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 ninety days, insiders sold 37,594 shares of company stock valued at $3,608,758. Insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MIRM. Cullen Frost Bankers Inc. bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $30,000. Eurizon Capital SGR S.p.A. bought a new stake in Mirum Pharmaceuticals in the 4th quarter worth approximately $32,000. CIBC Private Wealth Group LLC bought a new stake in Mirum Pharmaceuticals in the 4th quarter worth approximately $32,000. Quantbot Technologies LP purchased a new stake in Mirum Pharmaceuticals in the third quarter worth approximately $33,000. Finally, Summit Securities Group LLC purchased a new stake in Mirum Pharmaceuticals in the first quarter worth approximately $42,000.

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.