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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $93.99 and last traded at $93.0740, with a volume of 1431805 shares traded. The stock had previously closed at $91.89.

Analyst Ratings Changes

A number of research analysts recently weighed in on MIRM shares. Evercore ISI restated an “outperform” rating and issued a $101.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday. Raymond James Financial reissued a “strong-buy” rating and issued a $110.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday. TD Cowen reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday, January 12th. Finally, Citizens Jmp lifted their target price on Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.58.

Mirum Pharmaceuticals Trading Up 1.5%

The stock has a market cap of $4.79 billion, a price-to-earnings ratio of -108.45 and a beta of 0.48. The business’s 50 day moving average is $75.89 and its 200 day moving average is $69.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.31 and a quick ratio of 3.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.15. The company had revenue of $133.01 million during the quarter, compared to the consensus estimate of $130.11 million. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.Mirum Pharmaceuticals’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. As a group, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, insider Joanne Quan sold 6,911 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $90.27, for a total transaction of $623,855.97. Following the sale, the insider owned 11,305 shares of the company’s stock, valued at approximately $1,020,502.35. This trade represents a 37.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. MCF Advisors LLC increased its holdings in shares of Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $33,000. Comerica Bank increased its stake in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares in the last quarter. Quarry LP acquired a new position in Mirum Pharmaceuticals during the third quarter worth $41,000. Finally, CWM LLC boosted its position in Mirum Pharmaceuticals by 30.8% during the third quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

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.