Rice Hall James & Associates LLC Increases Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Rice Hall James & Associates LLC increased its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,730 shares of the company’s stock after acquiring an additional 14,843 shares during the period. Rice Hall James & Associates LLC owned approximately 0.49% of Mirum Pharmaceuticals worth $7,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of Mirum Pharmaceuticals by 34.2% in the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after purchasing an additional 704,659 shares during the period. Candriam S.C.A. acquired a new position in Mirum Pharmaceuticals in the 2nd quarter worth approximately $17,384,000. Cadian Capital Management LP increased its holdings in Mirum Pharmaceuticals by 34.8% in the 4th quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock worth $57,119,000 after buying an additional 500,000 shares during the period. Price T Rowe Associates Inc. MD raised its position in Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after buying an additional 432,824 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Mirum Pharmaceuticals by 1,533.9% during the 4th quarter. Clearbridge Investments LLC now owns 264,097 shares of the company’s stock valued at $7,796,000 after acquiring an additional 247,933 shares during the period.

Insider Transactions at Mirum Pharmaceuticals

In related news, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the transaction, the insider now directly owns 27,406 shares in the company, valued at $931,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. JMP Securities boosted their price objective on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price target on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Baird R W raised Mirum Pharmaceuticals to a “strong-buy” rating in a report on Monday, June 17th. Finally, Citigroup lifted their target price on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $56.27.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $41.77 on Wednesday. The stock has a 50 day moving average of $40.15 and a two-hundred day moving average of $31.43. Mirum Pharmaceuticals, Inc. has a 12 month low of $23.14 and a 12 month high of $45.23. The firm has a market cap of $1.97 billion, a P/E ratio of -11.26 and a beta of 1.14. The company has a current ratio of 3.28, a quick ratio of 3.09 and a debt-to-equity ratio of 1.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The firm had revenue of $77.90 million for the quarter, compared to analysts’ expectations of $75.03 million. The firm’s revenue for the quarter was up 107.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. On average, analysts expect that Mirum Pharmaceuticals, Inc. will post -1.75 earnings per share for the current fiscal year.

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.