Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High at $36.85

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $36.85 and last traded at $36.78, with a volume of 205256 shares trading hands. The stock had previously closed at $35.91.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MIRM shares. Baird R W upgraded Mirum Pharmaceuticals to a “strong-buy” rating in a research report on Monday, June 17th. Morgan Stanley boosted their price objective on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. JMP Securities upped their target price on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, Robert W. Baird upped their target price on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mirum Pharmaceuticals has an average rating of “Buy” and an average price target of $53.64.

Mirum Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $28.24 and its 200 day simple moving average is $27.43. The company has a current ratio of 3.68, a quick ratio of 3.47 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $1.78 billion, a PE ratio of -9.68 and a beta of 1.15.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The business had revenue of $69.22 million during the quarter, compared to analysts’ expectations of $69.71 million. On average, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.66 earnings per share for the current year.

Insider Activity

In related news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the transaction, the insider now owns 27,406 shares of the company’s stock, valued at $931,804. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the transaction, the insider now owns 27,406 shares in the company, valued at approximately $931,804. The disclosure for this sale can be found here. Insiders sold a total of 35,934 shares of company stock valued at $1,180,156 in the last 90 days. 22.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Large investors have recently made changes to their positions in the business. AJOVista LLC purchased a new stake in Mirum Pharmaceuticals during the 4th quarter worth $40,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $41,000. StepStone Group LP acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $135,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Mirum Pharmaceuticals by 447.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,394 shares of the company’s stock valued at $159,000 after buying an additional 4,408 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $194,000.

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.