Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 4%

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares were up 4% during mid-day trading on Monday . The company traded as high as $35.89 and last traded at $35.79. Approximately 76,574 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 618,620 shares. The stock had previously closed at $34.43.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MIRM shares. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target on shares of Mirum Pharmaceuticals in a report on Monday, June 17th. HC Wainwright reiterated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Monday. Citigroup increased their price target on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Morgan Stanley increased their price target on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $53.64.

Mirum Pharmaceuticals Price Performance

The business has a fifty day moving average of $28.04 and a 200 day moving average of $27.37. The company has a current ratio of 3.68, a quick ratio of 3.47 and a debt-to-equity ratio of 1.31.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). The company had revenue of $69.22 million during the quarter, compared to analyst estimates of $69.71 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. As a group, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, Director Saira Ramasastry sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Saira Ramasastry sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $34.00, for a total value of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares in the company, valued at approximately $931,804. The disclosure for this sale can be found here. Insiders have sold 35,934 shares of company stock valued at $1,180,156 in the last quarter. Corporate insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. increased its position in Mirum Pharmaceuticals by 0.4% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 6,495,392 shares of the company’s stock worth $191,744,000 after buying an additional 25,000 shares during the period. Janus Henderson Group PLC increased its position in Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after buying an additional 704,659 shares during the period. Cadian Capital Management LP increased its position in Mirum Pharmaceuticals by 34.8% during the fourth quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock worth $57,119,000 after buying an additional 500,000 shares during the period. Vanguard Group Inc. increased its position in Mirum Pharmaceuticals by 6.2% during the third quarter. Vanguard Group Inc. now owns 1,693,343 shares of the company’s stock worth $53,510,000 after buying an additional 98,685 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after purchasing an additional 432,824 shares during the last quarter.

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.