Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High – Still a Buy?

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) hit a new 52-week high during trading on Monday . The stock traded as high as $125.75 and last traded at $123.9350, with a volume of 653000 shares. The stock had previously closed at $125.59.

Analysts Set New Price Targets

MIRM has been the subject of a number of recent research reports. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Stifel Nicolaus set a $136.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. TD Cowen raised their price target on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.40.

Mirum Pharmaceuticals Price Performance

The stock has a market capitalization of $7.82 billion, a P/E ratio of -9.43 and a beta of 0.48. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The stock has a 50-day simple moving average of $104.54 and a 200 day simple moving average of $96.79.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. During the same quarter in the previous year, the firm earned ($0.30) EPS. The company’s revenue was up 43.3% compared to the same quarter last year. On average, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $93.82, for a total value of $469,100.00. Following the transaction, the chief financial officer owned 44,788 shares of the company’s stock, valued at approximately $4,202,010.16. This trade represents a 10.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the sale, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at approximately $18,622,574.56. This trade represents a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 40,315 shares of company stock worth $3,935,278. Company insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Faithward Advisors LLC lifted its holdings in shares of Mirum Pharmaceuticals by 0.5% in the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock valued at $2,537,000 after purchasing an additional 126 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Mirum Pharmaceuticals by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock worth $253,000 after acquiring an additional 200 shares during the period. Comerica Bank boosted its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the period. Osaic Holdings Inc. grew its stake in Mirum Pharmaceuticals by 46.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock valued at $56,000 after buying an additional 351 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $30,000.

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.