Mirum Pharmaceuticals (NASDAQ:MIRM) Sees Large Volume Increase on Analyst Upgrade

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) saw strong trading volume on Friday after Royal Bank Of Canada raised their price target on the stock from $128.00 to $142.00. Royal Bank Of Canada currently has an outperform rating on the stock. 694,728 shares traded hands during mid-day trading, a decline of 18% from the previous session’s volume of 844,981 shares.The stock last traded at $106.7940 and had previously closed at $102.93.

Other research analysts also recently issued research reports about the company. Robert W. Baird boosted their price target on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a report on Thursday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. Finally, HC Wainwright set a $185.00 price target on Mirum Pharmaceuticals in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $136.42.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $435,249.36. Following the sale, the senior vice president directly owned 8,429 shares in the company, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Peter Radovich sold 16,515 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $1,519,049.70. Following the sale, the chief operating officer owned 40,272 shares in the company, valued at approximately $3,704,218.56. This represents a 29.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 76,806 shares of company stock worth $7,064,616. Insiders own 14.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Mirum Pharmaceuticals by 21.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock valued at $479,050,000 after acquiring an additional 1,067,722 shares during the period. Vanguard Group Inc. lifted its holdings in Mirum Pharmaceuticals by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock valued at $205,065,000 after acquiring an additional 50,720 shares during the period. State Street Corp lifted its holdings in Mirum Pharmaceuticals by 59.2% in the fourth quarter. State Street Corp now owns 2,143,992 shares of the company’s stock valued at $169,354,000 after acquiring an additional 797,088 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Mirum Pharmaceuticals by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock valued at $112,196,000 after acquiring an additional 137,087 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Mirum Pharmaceuticals by 56.6% in the fourth quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company’s stock valued at $97,776,000 after acquiring an additional 447,141 shares during the period.

Mirum Pharmaceuticals Stock Performance

The company has a quick ratio of 2.55, a current ratio of 2.67 and a debt-to-equity ratio of 0.98. The company has a market cap of $6.52 billion, a P/E ratio of -7.86 and a beta of 0.52. The business has a fifty day simple moving average of $93.79 and a two-hundred day simple moving average of $86.06.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.39) by ($13.04). The company had revenue of $159.88 million during the quarter, compared to analysts’ expectations of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 10.84% and a negative net margin of 140.24%.The company’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.30) earnings per share. On average, sell-side analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.84 EPS for the current year.

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.