Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 12-Month High – Should You Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares reached a new 52-week high on Thursday . The stock traded as high as $49.27 and last traded at $48.65, with a volume of 84049 shares traded. The stock had previously closed at $46.72.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MIRM. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Citigroup boosted their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Leerink Partners increased their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $57.10.

Mirum Pharmaceuticals Stock Performance

The firm’s fifty day moving average is $43.65 and its 200 day moving average is $41.40. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -24.08 and a beta of 0.98. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. During the same period in the previous year, the company posted ($0.57) EPS. Mirum Pharmaceuticals’s revenue was up 89.4% on a year-over-year basis. On average, analysts predict that Mirum Pharmaceuticals, Inc. will post -1.45 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 7,489 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the sale, the chief executive officer now directly owns 119,359 shares in the company, valued at approximately $5,110,952.38. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Peter Radovich sold 1,998 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $85,554.36. Following the sale, the chief operating officer now directly owns 27,015 shares of the company’s stock, valued at $1,156,782.30. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,706 shares of company stock valued at $875,697 in the last three months. Corporate insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of MIRM. R Squared Ltd acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $69,000. Secure Asset Management LLC boosted its stake in Mirum Pharmaceuticals by 9.3% during the fourth quarter. Secure Asset Management LLC now owns 39,920 shares of the company’s stock worth $1,651,000 after buying an additional 3,406 shares in the last quarter. Avanza Fonder AB bought a new stake in Mirum Pharmaceuticals in the 4th quarter valued at $189,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Mirum Pharmaceuticals by 25.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company’s stock valued at $6,021,000 after buying an additional 29,545 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Mirum Pharmaceuticals during the 3rd quarter worth about $28,913,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.