Hillsdale Investment Management Inc. Invests $3.76 Million in Mirum Pharmaceuticals, Inc. $MIRM

Hillsdale Investment Management Inc. purchased a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,630 shares of the company’s stock, valued at approximately $3,762,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $30,000. MCF Advisors LLC raised its position in shares of Mirum Pharmaceuticals by 76.4% during the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $33,000. Comerica Bank raised its position in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the period. Finally, Quarry LP acquired a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $41,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MIRM. Wolfe Research began coverage on Mirum Pharmaceuticals in a report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price objective for the company. Wall Street Zen lowered Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Morgan Stanley increased their price objective on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Robert W. Baird increased their price objective on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, HC Wainwright set a $185.00 price objective on Mirum Pharmaceuticals in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $137.08.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $101.50 on Monday. Mirum Pharmaceuticals, Inc. has a 12-month low of $43.30 and a 12-month high of $114.99. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of -7.46 and a beta of 0.50. The business has a 50 day simple moving average of $96.89 and a 200 day simple moving average of $89.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The firm had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business’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, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.11 EPS for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 4,732 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the sale, the senior vice president directly owned 8,429 shares in the company, valued at $775,299.42. This represents a 35.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joanne Quan sold 7,287 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the completion of the sale, the insider owned 18,864 shares of the company’s stock, valued at $1,735,110.72. This trade represents a 27.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,806 shares of company stock valued at $7,064,616 over the last three months. 8.32% of the stock is owned by company insiders.

Mirum Pharmaceuticals 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.