Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 52-Week High – Time to Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $125.75 and last traded at $123.9350, with a volume of 653000 shares traded. The stock had previously closed at $125.59.

Wall Street Analyst Weigh In

Several equities analysts have commented on MIRM shares. Wall Street Zen downgraded Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Morgan Stanley upped their price objective on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. HC Wainwright reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Finally, CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

Mirum Pharmaceuticals Stock Performance

The stock has a market cap of $7.45 billion, a P/E ratio of -9.09 and a beta of 0.48. The firm has a 50 day moving average of $103.20 and a two-hundred day moving average of $95.99. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. The business’s quarterly revenue was up 43.3% on a year-over-year basis. On average, research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00. Following the transaction, the chief financial officer directly owned 44,788 shares in the company, valued at $4,202,010.16. This trade represents a 10.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 40,315 shares of company stock worth $3,935,278. Insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MIRM. 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 valued at $2,537,000 after buying an additional 126 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in 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 increased its stake in 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. Osaic Holdings Inc. increased its stake in Mirum Pharmaceuticals by 46.5% during 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 period. Finally, Cullen Frost Bankers Inc. acquired a new position in Mirum Pharmaceuticals in the 4th quarter valued at approximately $30,000.

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.