15,400 Shares in Mirum Pharmaceuticals, Inc. $MIRM Purchased by TD Asset Management Inc

TD Asset Management Inc bought a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,400 shares of the company’s stock, valued at approximately $1,129,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. TimesSquare Capital Management LLC bought a new position in Mirum Pharmaceuticals in the third quarter worth $22,041,000. Soleus Capital Management L.P. purchased a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth about $15,201,000. Bank of New York Mellon Corp increased its stake in shares of Mirum Pharmaceuticals by 101.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,061 shares of the company’s stock worth $25,245,000 after acquiring an additional 249,331 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Mirum Pharmaceuticals by 66.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 480,276 shares of the company’s stock valued at $24,441,000 after acquiring an additional 192,340 shares during the period. Finally, Nan Fung Trinity HK Ltd. purchased a new position in Mirum Pharmaceuticals during the 2nd quarter valued at about $7,469,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Mirum Pharmaceuticals from $98.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. TD Cowen boosted their target price on Mirum Pharmaceuticals from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. HC Wainwright raised their price target on Mirum Pharmaceuticals from $102.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 26th. Citizens Jmp dropped their target price on shares of Mirum Pharmaceuticals from $140.00 to $132.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Leerink Partners decreased their price target on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $117.00.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $87.84 on Friday. The company’s 50 day moving average is $94.11 and its 200 day moving average is $79.75. The company has a current ratio of 2.67, a quick ratio of 2.55 and a debt-to-equity ratio of 0.98. The company has a market cap of $5.30 billion, a price-to-earnings ratio of -183.00 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a 12-month low of $36.88 and a 12-month high of $109.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The company had revenue of $148.93 million for the quarter, compared to analysts’ expectations of $141.78 million. During the same quarter last year, the firm posted $1.00 earnings per share. Mirum Pharmaceuticals’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insider Buying and Selling

In other news, CFO Eric Bjerkholt sold 1,053 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $96.19, for a total value of $101,288.07. Following the completion of the sale, the chief financial officer directly owned 43,741 shares of the company’s stock, valued at $4,207,446.79. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jolanda Howe sold 968 shares of Mirum Pharmaceuticals stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $103.30, for a total transaction of $99,994.40. Following the transaction, the senior vice president owned 4,503 shares in the company, valued at approximately $465,159.90. This trade represents a 17.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 45,136 shares of company stock worth $4,352,029 in the last ninety days. Corporate insiders own 14.36% of the company’s stock.

Mirum Pharmaceuticals 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.