Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High – Still a Buy?

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.53 and last traded at $53.24, with a volume of 182269 shares trading hands. The stock had previously closed at $52.70.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MIRM. HC Wainwright reiterated a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Citigroup boosted their price objective on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird lifted their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $57.10.

Mirum Pharmaceuticals Stock 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 company has a market capitalization of $2.52 billion, a P/E ratio of -26.03 and a beta of 0.96. The stock’s 50 day moving average price is $45.62 and its 200 day moving average price is $42.84.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 750 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $32,115.00. Following the transaction, the senior vice president now directly owns 2,926 shares in the company, valued at $125,291.32. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Peter Radovich sold 1,998 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $85,554.36. Following the completion of the sale, the chief operating officer now directly owns 27,015 shares in the company, valued at approximately $1,156,782.30. This trade represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,915 shares of company stock valued at $1,897,920 over the last ninety days. 22.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning bought a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at about $249,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Mirum Pharmaceuticals by 10.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 116,054 shares of the company’s stock worth $4,526,000 after acquiring an additional 11,284 shares in the last quarter. Values First Advisors Inc. raised its position in shares of Mirum Pharmaceuticals by 20.1% in the 3rd quarter. Values First Advisors Inc. now owns 23,725 shares of the company’s stock worth $925,000 after acquiring an additional 3,971 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after buying an additional 318 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Mirum Pharmaceuticals by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,176 shares of the company’s stock worth $358,000 after buying an additional 3,639 shares during 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.