Fisher Asset Management LLC Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

Fisher Asset Management LLC acquired a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,089 shares of the company’s stock, valued at approximately $1,113,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth about $30,000. MCF Advisors LLC raised its holdings in Mirum Pharmaceuticals by 76.4% during the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals during the 3rd quarter worth about $33,000. Comerica Bank raised its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the last quarter. Finally, Quarry LP bought a new stake in Mirum Pharmaceuticals during the 3rd quarter worth about $41,000.

Insider Buying and Selling

In other news, CFO Eric Bjerkholt 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 chief financial officer directly owned 49,788 shares of the company’s stock, valued at $4,579,500.24. This represents a 12.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jolanda Howe sold 4,732 shares of the company’s 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 directly owned 8,429 shares of the company’s stock, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 76,806 shares of company stock worth $7,064,616 over the last quarter. Insiders own 14.36% of the company’s stock.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $101.50 on Friday. 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 stock has a market cap of $6.19 billion, a PE ratio of -7.46 and a beta of 0.52. The stock has a 50-day moving average of $96.89 and a 200-day moving average of $89.45. Mirum Pharmaceuticals, Inc. has a one year low of $43.30 and a one year high of $114.99.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The company had revenue of $159.88 million during 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 was up 43.3% compared to the same quarter last year. During the same period last year, the company earned ($0.30) earnings per share. As a group, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -2.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on MIRM shares. HC Wainwright set a $185.00 price objective on Mirum Pharmaceuticals in a report on Thursday, May 7th. Wall Street Zen cut Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Citizens Jmp reissued a “market outperform” rating and set a $132.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, April 21st. Evercore reissued an “outperform” rating and set a $138.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. One 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.08.

About Mirum Pharmaceuticals

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.