367,281 Shares in Mirum Pharmaceuticals, Inc. $MIRM Acquired by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 367,281 shares of the company’s stock, valued at approximately $42,998,000.

Several other large investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. boosted its position in Mirum Pharmaceuticals by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock valued at $539,000 after buying an additional 103 shares during the last quarter. Faithward Advisors LLC raised its position in shares of Mirum Pharmaceuticals by 0.5% during the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock worth $2,537,000 after acquiring an additional 126 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Mirum Pharmaceuticals by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock valued at $253,000 after acquiring an additional 200 shares during the period. Comerica Bank lifted its stake in shares of Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Mirum Pharmaceuticals by 46.5% in the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock valued at $56,000 after acquiring an additional 351 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on MIRM. TD Cowen lowered their price objective on Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada reduced their target price on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Citizens Jmp dropped their price target on shares of Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating for the company in a research note on Thursday, August 6th. Finally, Morgan Stanley set a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.33.

Insider Activity

In related news, SVP Jolanda Howe sold 1,840 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $105.29, for a total transaction of $193,733.60. Following the transaction, the senior vice president owned 1,274 shares of the company’s stock, valued at $134,139.46. This trade represents a 59.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $98.92, for a total transaction of $1,978,400.00. Following the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at approximately $19,221,046.28. This represents a 9.33% 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. Insiders sold a total of 93,156 shares of company stock valued at $9,763,562 in the last ninety days. 8.32% of the stock is owned by insiders.

Mirum Pharmaceuticals Stock Down 0.8%

Shares of Mirum Pharmaceuticals stock opened at $99.83 on Tuesday. The business has a fifty day simple moving average of $111.04 and a 200 day simple moving average of $102.03. The stock has a market cap of $6.48 billion, a PE ratio of -6.86 and a beta of 0.52. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 12 month low of $63.23 and a 12 month high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The company had revenue of $176.24 million during the quarter, compared to analyst estimates of $166.33 million. During the same period in the previous year, the company posted ($0.12) EPS. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. Research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

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.