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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $49.27 and last traded at $48.65, with a volume of 84049 shares traded. The stock had previously closed at $46.72.

Analyst Upgrades and Downgrades

A number of research firms have commented on MIRM. Citigroup boosted their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird increased their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. 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. Finally, Leerink Partners increased their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $57.10.

Mirum Pharmaceuticals Trading Up 4.1 %

The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -24.08 and a beta of 0.98. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The business’s 50-day simple moving average is $43.65 and its 200-day simple moving average is $41.40.

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

Insider Activity at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 7,489 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the transaction, the chief executive officer now owns 119,359 shares of the company’s stock, valued at $5,110,952.38. The trade was a 5.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jolanda Howe sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the sale, the senior vice president now directly owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,706 shares of company stock worth $875,697. 22.87% of the stock is owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank lifted its stake in Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after buying an additional 513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 valued at $67,000 after purchasing an additional 318 shares during the period. R Squared Ltd bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $69,000. Avanza Fonder AB bought a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth about $189,000. Finally, ProShare Advisors LLC acquired a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at approximately $213,000.

About Mirum Pharmaceuticals

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.