Loomis Sayles & Co. L P Buys New Shares in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Loomis Sayles & Co. L P acquired a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 499,316 shares of the company's stock, valued at approximately $19,473,000. Loomis Sayles & Co. L P owned about 1.05% of Mirum Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in Mirum Pharmaceuticals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company's stock worth $439,000 after buying an additional 1,825 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Mirum Pharmaceuticals by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company's stock worth $40,131,000 after acquiring an additional 432,824 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Mirum Pharmaceuticals by 64.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company's stock valued at $4,090,000 after purchasing an additional 63,871 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company's stock valued at $69,470,000 after purchasing an additional 704,659 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Mirum Pharmaceuticals by 10.5% during the second quarter. Raymond James & Associates now owns 144,214 shares of the company's stock worth $4,931,000 after purchasing an additional 13,651 shares during the last quarter.

Insider Activity

In other news, SVP Jolanda Howe sold 2,500 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the transaction, the senior vice president now owns 2,426 shares of the company's stock, valued at approximately $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.87% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MIRM shares. Leerink Partners increased their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Evercore ISI increased their price target on 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 reissued a "buy" rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. 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 research report on Wednesday, November 13th. Finally, Citigroup lifted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research note 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 company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $57.73.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock traded up $1.50 during trading on Wednesday, reaching $46.65. 279,695 shares of the company's stock traded hands, compared to its average volume of 554,456. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.14 and a 1 year high of $48.89. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm's 50-day moving average is $40.47 and its 200 day moving average is $37.03.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. During the same period last year, the company earned ($0.57) earnings per share. The business's revenue for the quarter was up 89.4% on a year-over-year basis. As a group, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current year.

Mirum Pharmaceuticals Profile

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.