Norges Bank Makes New $20.79 Million Investment in Mirum Pharmaceuticals, Inc. $MIRM

Norges Bank acquired a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 263,175 shares of the company’s stock, valued at approximately $20,788,000. Norges Bank owned 0.51% of Mirum Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $1,478,000. Candriam S.C.A. lifted its holdings in shares of Mirum Pharmaceuticals by 8.0% during the 3rd quarter. Candriam S.C.A. now owns 403,026 shares of the company’s stock valued at $29,546,000 after buying an additional 30,021 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter valued at about $22,041,000. TD Asset Management Inc acquired a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter valued at about $1,129,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter valued at about $503,000.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $95.48 on Wednesday. The stock has a market cap of $5.82 billion, a PE ratio of -7.02 and a beta of 0.50. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 1 year low of $47.15 and a 1 year high of $114.99. The stock’s 50 day simple moving average is $97.53 and its 200-day simple moving average is $90.70.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MIRM shares. Royal Bank Of Canada lifted their price target on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Wolfe Research initiated coverage on Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price target on the stock. HC Wainwright set a $185.00 price target on Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.64.

Insiders Place Their Bets

In related news, insider Joanne Quan sold 7,287 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the sale, the insider owned 18,864 shares of the company’s stock, valued at $1,735,110.72. The trade was a 27.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jolanda Howe sold 4,732 shares of the business’s stock in a transaction on 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 directly owned 8,429 shares in the company, valued at approximately $775,299.42. This represents a 35.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,806 shares of company stock worth $10,408,916 over the last quarter. Corporate insiders own 8.32% of the company’s stock.

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.