Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High – Here’s Why

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $93.99 and last traded at $93.0740, with a volume of 1431805 shares trading hands. The stock had previously closed at $91.89.

Analysts Set New Price Targets

MIRM has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday. HC Wainwright restated a “buy” rating and issued a $102.00 price objective (up from $81.00) on shares of Mirum Pharmaceuticals in a report on Tuesday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday, December 8th. Stifel Nicolaus lifted their target price on Mirum Pharmaceuticals from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $102.58.

Mirum Pharmaceuticals Trading Up 1.5%

The stock has a fifty day moving average price of $75.89 and a 200 day moving average price of $69.99. The stock has a market cap of $4.79 billion, a PE ratio of -108.45 and a beta of 0.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.16 and a current ratio of 3.31.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.15. The company had revenue of $133.01 million for the quarter, compared to analyst estimates of $130.11 million. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. Mirum Pharmaceuticals’s revenue was up 47.1% compared to the same quarter last year. During the same period last year, the company posted ($0.30) earnings per share. Equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joanne Quan sold 6,911 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $90.27, for a total value of $623,855.97. Following the sale, the insider directly owned 11,305 shares of the company’s stock, valued at $1,020,502.35. The trade was a 37.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 14.36% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock worth $57,965,000 after buying an additional 672,118 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Mirum Pharmaceuticals by 709.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock valued at $44,889,000 after buying an additional 536,674 shares during the period. Voloridge Investment Management LLC lifted its stake in Mirum Pharmaceuticals by 2,116.6% during the 3rd quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock worth $28,560,000 after acquiring an additional 371,999 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Mirum Pharmaceuticals during the 3rd quarter valued at about $23,250,000. Finally, William Blair Investment Management LLC purchased a new position in Mirum Pharmaceuticals during the 3rd quarter valued at about $22,965,000.

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.