Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches 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 $115.00 and last traded at $114.73, with a volume of 284563 shares trading hands. The stock had previously closed at $111.07.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MIRM shares. Morgan Stanley boosted their price objective on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 8th. HC Wainwright reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. CLSA set a $146.00 price target on Mirum Pharmaceuticals in a research report on Monday, June 15th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $139.80.

Mirum Pharmaceuticals Price Performance

The company’s 50-day moving average price is $99.19 and its two-hundred day moving average price is $92.93. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The company has a market capitalization of $6.97 billion, a P/E ratio of -8.40 and a beta of 0.50.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its 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 company had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. During the same period in the previous year, the firm posted ($0.30) EPS. The business’s quarterly revenue was up 43.3% on a year-over-year basis. As a group, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,594 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $101.95, for a total value of $264,458.30. Following the transaction, the senior vice president owned 5,835 shares of the company’s stock, valued at approximately $594,878.25. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total value of $2,875,200.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,594 shares of company stock worth $3,608,758 over the last quarter. Company insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MIRM. Glenmede Trust Co. NA lifted its holdings in shares of Mirum Pharmaceuticals by 66.9% during the first quarter. Glenmede Trust Co. NA now owns 5,532 shares of the company’s stock worth $511,000 after buying an additional 2,217 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Mirum Pharmaceuticals by 14.5% in the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after acquiring an additional 880,505 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in Mirum Pharmaceuticals during the first quarter worth about $573,000. California State Teachers Retirement System increased its position in Mirum Pharmaceuticals by 22.1% during the first quarter. California State Teachers Retirement System now owns 44,476 shares of the company’s stock worth $4,109,000 after acquiring an additional 8,065 shares during the period. Finally, Rock Springs Capital Management LP raised its stake in Mirum Pharmaceuticals by 6.4% in the 1st quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company’s stock worth $74,947,000 after purchasing an additional 49,000 shares in the last quarter.

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.