Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 52-Week High – Time to Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $107.41 and last traded at $106.2250, with a volume of 108919 shares. The stock had previously closed at $102.83.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MIRM. Morgan Stanley boosted their price target on Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Leerink Partners set a $100.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, December 10th. Finally, Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.17.

Mirum Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 3.31 and a quick ratio of 3.16. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of -122.17 and a beta of 0.49. The stock has a 50 day moving average price of $87.83 and a 200-day moving average price of $76.82.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 1,053 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $96.19, for a total value of $101,288.07. Following the sale, the chief financial officer owned 43,741 shares of the company’s stock, valued at $4,207,446.79. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Peter Radovich sold 2,631 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $103.30, for a total transaction of $271,782.30. Following the sale, the chief operating officer directly owned 20,655 shares in the company, valued at $2,133,661.50. This represents a 11.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 45,136 shares of company stock valued at $4,352,029. Corporate insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Comerica Bank grew its position in shares of Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Mirum Pharmaceuticals by 307.3% during the first quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock valued at $2,211,000 after acquiring an additional 37,028 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mirum Pharmaceuticals by 7.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock worth $1,176,000 after acquiring an additional 1,720 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at $217,000. Finally, Empowered Funds LLC grew its holdings in Mirum Pharmaceuticals by 15.4% in the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock valued at $1,729,000 after purchasing an additional 5,120 shares during the period.

About Mirum Pharmaceuticals

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.