Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High – Here’s What Happened

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.53 and last traded at $53.24, with a volume of 182269 shares changing hands. The stock had previously closed at $52.70.

Analysts Set New Price Targets

A number of analysts recently issued reports on MIRM shares. Robert W. Baird lifted their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. 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. Finally, Citigroup boosted their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note 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 stock presently has a consensus rating of “Buy” and a consensus target price of $57.10.

Mirum Pharmaceuticals Stock Down 1.2 %

The firm’s fifty day moving average price is $46.21 and its 200-day moving average price is $43.07. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -25.99 and a beta of 0.96. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15.

Insider Transactions at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 7,489 shares of the stock in a transaction 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 $5,110,952.38. This represents a 5.90 % 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 6,969 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $45.86, for a total value of $319,598.34. Following the completion of the sale, the insider now owns 5,649 shares of the company’s stock, valued at $259,063.14. The trade was a 55.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,915 shares of company stock worth $1,897,920. Corporate insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. increased its holdings in Mirum Pharmaceuticals by 1.2% in the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock valued at $256,245,000 after purchasing an additional 75,000 shares during the period. Janus Henderson Group PLC grew its holdings in Mirum Pharmaceuticals by 2.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company’s stock worth $189,481,000 after acquiring an additional 101,358 shares during the period. State Street Corp grew its holdings in Mirum Pharmaceuticals by 19.9% during the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after acquiring an additional 297,511 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Mirum Pharmaceuticals by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company’s stock worth $58,831,000 after acquiring an additional 138,623 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Mirum Pharmaceuticals by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock worth $39,016,000 after acquiring an additional 7,147 shares during the period.

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.