Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High – Here’s Why

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) hit a new 52-week high on Tuesday . The stock traded as high as $109.28 and last traded at $106.00, with a volume of 45395 shares trading hands. The stock had previously closed at $105.89.

Wall Street Analysts Forecast Growth

MIRM has been the topic of a number of analyst reports. Citizens Jmp lifted their price objective on Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a report on Friday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, December 8th. TD Cowen reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, January 12th. Robert W. Baird upped their target price on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, December 8th. Finally, Royal Bank Of Canada began coverage on Mirum Pharmaceuticals in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $130.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.17.

Mirum Pharmaceuticals Price Performance

The business’s 50 day simple moving average is $91.07 and its 200-day simple moving average is $78.26. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -122.65 and a beta of 0.49. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.16 and a current ratio of 3.31.

Insider Activity

In other news, SVP Jolanda Howe sold 968 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $103.30, for a total value of $99,994.40. Following the completion of the transaction, the senior vice president owned 4,503 shares of the company’s stock, valued at approximately $465,159.90. This represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Eric Bjerkholt sold 1,053 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $96.19, for a total transaction of $101,288.07. Following the completion of the sale, the chief financial officer directly owned 43,741 shares of the company’s stock, valued at $4,207,446.79. The trade was a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,136 shares of company stock worth $4,352,029 over the last ninety days. 22.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Mirum Pharmaceuticals by 30.8% during the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock valued at $50,000 after purchasing an additional 161 shares in the last quarter. Legal & General Group Plc boosted its holdings in Mirum Pharmaceuticals by 0.4% during the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock valued at $2,189,000 after acquiring an additional 176 shares during the period. MCF Advisors LLC grew its position in shares of Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Mirum Pharmaceuticals by 6.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock valued at $253,000 after buying an additional 200 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Mirum Pharmaceuticals by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company’s stock worth $504,000 after buying an additional 215 shares in 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.