Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 12-Month High – Should You Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $115.00 and last traded at $114.73, with a volume of 284563 shares trading hands. The stock had previously closed at $111.07.

Analysts Set New Price Targets

A number of analysts recently issued reports on MIRM shares. Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a research note on Thursday, May 7th. CLSA set a $146.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Royal Bank Of Canada upped their price target on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Evercore reissued an “outperform” rating and set a $138.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.80.

Mirum Pharmaceuticals Trading Up 3.0%

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 business has a 50-day simple moving average of $99.19 and a two-hundred day simple moving average of $92.93. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of -8.40 and a beta of 0.50.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly 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). The business had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.Mirum Pharmaceuticals’s revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.30) earnings per share. As a group, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,594 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $101.95, for a total value of $264,458.30. Following the completion of the transaction, the senior vice president owned 5,835 shares in the company, valued at $594,878.25. This trade represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals 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 completion of the sale, the chief financial officer directly owned 44,788 shares in the company, valued at approximately $4,202,010.16. This represents a 10.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 37,594 shares of company stock worth $3,608,758. Insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its stake in shares of Mirum Pharmaceuticals by 66.9% during the 1st quarter. Glenmede Trust Co. NA now owns 5,532 shares of the company’s stock worth $511,000 after purchasing an additional 2,217 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Mirum Pharmaceuticals by 14.5% in the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after buying an additional 880,505 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Mirum Pharmaceuticals in the first quarter valued at $573,000. California State Teachers Retirement System increased its holdings in Mirum Pharmaceuticals by 22.1% during the first quarter. California State Teachers Retirement System now owns 44,476 shares of the company’s stock worth $4,109,000 after buying an additional 8,065 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its holdings in Mirum Pharmaceuticals by 6.4% during the first quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company’s stock worth $74,947,000 after buying an additional 49,000 shares during the last quarter.

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.