Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High – What’s Next?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $49.58 and last traded at $48.54, with a volume of 326605 shares traded. The stock had previously closed at $48.48.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Leerink Partners increased their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Citigroup boosted their target price on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird upped their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $57.10.

Mirum Pharmaceuticals Stock Performance

The firm’s 50-day moving average is $43.90 and its 200 day moving average is $41.68. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33.

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

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 6,837 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $47.92, for a total value of $327,629.04. Following the completion of the transaction, the chief executive officer now owns 125,022 shares of the company’s stock, valued at approximately $5,991,054.24. The trade was a 5.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Peter Radovich sold 3,177 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $47.92, for a total transaction of $152,241.84. Following the sale, the chief operating officer now directly owns 29,588 shares in the company, valued at $1,417,856.96. This represents a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,622 shares of company stock valued at $1,398,791. 22.87% of the stock is owned by corporate insiders.

Institutional Trading of Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of MIRM. Amalgamated Bank lifted its stake in shares of Mirum Pharmaceuticals by 60.8% during the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the period. R Squared Ltd purchased a new position in Mirum Pharmaceuticals during the fourth quarter worth about $69,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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. Avanza Fonder AB purchased a new stake in Mirum Pharmaceuticals in the 4th quarter valued at about $189,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Mirum Pharmaceuticals during the 3rd quarter valued at about $215,000.

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.