Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 52-Week High - Here's What Happened

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $50.23 and last traded at $50.11, with a volume of 181017 shares changing hands. The stock had previously closed at $48.59.

Wall Street Analyst Weigh In

Several analysts have issued reports on MIRM shares. HC Wainwright restated a "buy" rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Citigroup lifted their target price 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. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of "Buy" and an average target price of $57.10.

Mirum Pharmaceuticals Stock Down 0.3 %

The stock has a market cap of $2.45 billion, a PE ratio of -25.28 and a beta of 0.96. The business has a 50 day moving average of $44.80 and a 200-day moving average of $42.31. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.15. The firm had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business's revenue was up 89.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.57) earnings per share. Equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 7,489 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $320,678.98. Following the transaction, the chief executive officer now directly owns 119,359 shares in the company, valued at approximately $5,110,952.38. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 2,426 shares of the company's stock, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,415 shares of company stock worth $2,015,670. 22.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Creative Planning purchased a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $249,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Mirum Pharmaceuticals by 10.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 116,054 shares of the company's stock worth $4,526,000 after acquiring an additional 11,284 shares in the last quarter. Values First Advisors Inc. raised its stake in shares of Mirum Pharmaceuticals by 20.1% in the 3rd quarter. Values First Advisors Inc. now owns 23,725 shares of the company's stock valued at $925,000 after acquiring an additional 3,971 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Mirum Pharmaceuticals by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company's stock valued at $67,000 after acquiring an additional 318 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Mirum Pharmaceuticals by 65.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,176 shares of the company's stock worth $358,000 after purchasing an additional 3,639 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.