Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 12-Month High – Time to Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) hit a new 52-week high during mid-day trading on Wednesday . The stock 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

Several research analysts recently commented on the company. Citigroup boosted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Leerink Partners lifted their price target 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. Finally, HC Wainwright reissued a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research 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. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $57.10.

Mirum Pharmaceuticals Trading Up 0.1 %

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 company’s 50 day moving average is $43.90 and its 200 day moving average is $41.68.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. The business had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business’s revenue was up 89.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. Equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.45 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,500 shares of the company’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 completion of the sale, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at approximately $114,264.60. This represents a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Peter Radovich sold 1,998 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $85,554.36. Following the transaction, the chief operating officer now directly owns 27,015 shares in the company, valued at approximately $1,156,782.30. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,622 shares of company stock worth $1,398,791. Insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. increased its holdings in shares of 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 purchasing an additional 75,000 shares during the period. State Street Corp grew its position in Mirum Pharmaceuticals by 19.9% in the 3rd 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 increased its stake in Mirum Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock valued at $36,519,000 after buying an additional 29,017 shares during the period. Lord Abbett & CO. LLC purchased a new position in Mirum Pharmaceuticals during the 3rd quarter worth $28,913,000. Finally, Clearbridge Investments LLC lifted its stake in shares of Mirum Pharmaceuticals by 165.5% in the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after acquiring an additional 436,349 shares during the period.

Mirum Pharmaceuticals Company Profile

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.