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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) reached a new 52-week high during trading on Wednesday . The company traded as high as $114.08 and last traded at $112.6720, with a volume of 2558923 shares trading hands. The stock had previously closed at $106.88.

Analyst Ratings Changes

Several research firms recently issued reports on MIRM. Evercore reissued an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Royal Bank Of Canada increased their price target on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.42.

Mirum Pharmaceuticals Stock Up 4.4%

The firm’s 50-day moving average price is $94.33 and its 200-day moving average price is $86.83. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The company has a market cap of $6.81 billion, a price-to-earnings ratio of -8.21 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The business had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The business’s revenue was up 43.3% compared to the same quarter last year. Sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.24 earnings per share for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other news, insider Joanne Quan sold 7,287 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the completion of the sale, the insider owned 18,864 shares of the company’s stock, valued at $1,735,110.72. This represents a 27.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the sale, the senior vice president owned 8,429 shares of the company’s stock, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 76,806 shares of company stock valued at $7,064,616 over the last 90 days. Corporate insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $30,000. MCF Advisors LLC grew its holdings in Mirum Pharmaceuticals by 76.4% during the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Mirum Pharmaceuticals during the 4th quarter worth $32,000. CIBC Private Wealth Group LLC purchased a new stake in Mirum Pharmaceuticals during the 4th quarter worth $32,000. Finally, Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals in the 3rd quarter worth $33,000.

Mirum Pharmaceuticals Company 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.