Intech Investment Management LLC Takes Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Intech Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,733 shares of the company's stock, valued at approximately $497,000.

A number of other large investors have also added to or reduced their stakes in MIRM. Raymond James & Associates raised its holdings in Mirum Pharmaceuticals by 10.5% in the second quarter. Raymond James & Associates now owns 144,214 shares of the company's stock worth $4,931,000 after buying an additional 13,651 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Mirum Pharmaceuticals by 64.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company's stock worth $3,582,000 after buying an additional 41,236 shares during the last quarter. Secure Asset Management LLC grew its stake in shares of Mirum Pharmaceuticals by 8.6% in the second quarter. Secure Asset Management LLC now owns 45,904 shares of the company's stock worth $1,569,000 after acquiring an additional 3,630 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Mirum Pharmaceuticals by 48.2% in the second quarter. Bank of New York Mellon Corp now owns 143,000 shares of the company's stock worth $4,889,000 after acquiring an additional 46,506 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of Mirum Pharmaceuticals by 17.1% in the second quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the company's stock worth $480,000 after acquiring an additional 2,050 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MIRM. Citigroup lifted their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Evercore ISI boosted their target price on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. HC Wainwright restated a "buy" rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Cantor Fitzgerald boosted their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Finally, Robert W. Baird boosted their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $57.73.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares of the company's stock, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.87% of the stock is currently owned by insiders.

Mirum Pharmaceuticals Price Performance

Shares of Mirum Pharmaceuticals stock traded down $0.01 during trading hours on Monday, reaching $46.21. 301,388 shares of the company's stock were exchanged, compared to its average volume of 551,867. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.14 and a 1 year high of $48.89. The company has a market capitalization of $2.22 billion, a P/E ratio of -22.88 and a beta of 1.16. The business has a fifty day moving average of $40.93 and a two-hundred day moving average of $37.49. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $90.38 million for the quarter, compared to analysts' expectations of $81.99 million. During the same quarter in the prior year, the company posted ($0.57) earnings per share. Mirum Pharmaceuticals's revenue for the quarter was up 89.4% compared to the same quarter last year. As a group, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

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.