Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 12-Month High – Still a Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $49.27 and last traded at $48.65, with a volume of 84049 shares traded. The stock had previously closed at $46.72.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MIRM. Leerink Partners boosted their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Citigroup upped 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. Robert W. Baird boosted their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $57.10.

Mirum Pharmaceuticals Stock Performance

The firm’s 50 day moving average is $43.76 and its 200 day moving average is $41.53. 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 stock has a market cap of $2.28 billion, a P/E ratio of -23.53 and a beta of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. During the same quarter in the prior year, the business posted ($0.57) EPS. The business’s revenue for the quarter was up 89.4% compared to the same quarter last year. Analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.45 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 750 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $32,115.00. Following the transaction, the senior vice president now owns 2,926 shares in the company, valued at $125,291.32. This trade represents a 20.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Peetz sold 7,489 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $320,678.98. Following the completion of the sale, the chief executive officer now directly owns 119,359 shares of the company’s stock, valued at approximately $5,110,952.38. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,706 shares of company stock worth $875,697. Company insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Mirum Pharmaceuticals by 22.6% during the third 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 in the last quarter. Amalgamated Bank boosted its position in shares of Mirum Pharmaceuticals by 60.8% during the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mirum Pharmaceuticals by 10.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,179 shares of the company’s stock valued at $421,000 after purchasing an additional 1,003 shares during the period. R Squared Ltd acquired a new stake in Mirum Pharmaceuticals during the fourth quarter worth about $69,000. Finally, Secure Asset Management LLC raised its stake in Mirum Pharmaceuticals by 9.3% during the fourth quarter. Secure Asset Management LLC now owns 39,920 shares of the company’s stock worth $1,651,000 after purchasing an additional 3,406 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.