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

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) hit a new 52-week high during trading on Wednesday . The company traded as high as $49.58 and last traded at $48.54, with a volume of 326605 shares trading hands. The stock had previously closed at $48.48.

Wall Street Analyst Weigh In

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

Mirum Pharmaceuticals Price Performance

The company has a market capitalization of $2.33 billion, a PE ratio of -23.98 and a beta of 0.98. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The firm’s 50-day moving average is $44.12 and its 200-day moving average is $41.80.

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

Insider Activity

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 1,998 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $85,554.36. Following the completion of the sale, the chief operating officer now owns 27,015 shares of the company’s stock, valued at $1,156,782.30. This represents a 6.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jolanda Howe sold 750 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $32,115.00. Following the completion of the transaction, the senior vice president now owns 2,926 shares in the company, valued at $125,291.32. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,622 shares of company stock valued at $1,398,791. Corporate insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC purchased a new stake in Mirum Pharmaceuticals in the 2nd quarter worth approximately $213,000. Marshall Wace LLP lifted its stake in Mirum Pharmaceuticals by 35.9% in the second quarter. Marshall Wace LLP now owns 20,520 shares of the company’s stock worth $702,000 after acquiring an additional 5,420 shares during the period. Squarepoint Ops LLC boosted its holdings in Mirum Pharmaceuticals by 63.4% in the second quarter. Squarepoint Ops LLC now owns 67,421 shares of the company’s stock valued at $2,305,000 after acquiring an additional 26,154 shares in the last quarter. Clearbridge Investments LLC increased its position in Mirum Pharmaceuticals by 165.5% during the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after purchasing an additional 436,349 shares during the period. Finally, Creative Planning bought a new position in Mirum Pharmaceuticals in the 3rd quarter worth $249,000.

About Mirum Pharmaceuticals

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.