Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 1-Year High - Here's What Happened

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $49.58 and last traded at $48.54, with a volume of 326605 shares changing hands. The stock had previously closed at $48.48.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MIRM shares. Robert W. Baird raised their price objective 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. 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. Leerink Partners raised their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, Citigroup raised their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $57.10.

Mirum Pharmaceuticals Stock Up 0.1 %

The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -24.06 and a beta of 0.98. The business has a fifty day moving average price of $44.03 and a two-hundred day moving average price of $41.75.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate 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 company had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. During the same period last year, the company earned ($0.57) earnings per share. Mirum Pharmaceuticals's quarterly revenue was up 89.4% compared to the same quarter last year. On average, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 6,837 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $47.92, for a total value of $327,629.04. Following the sale, the chief executive officer now owns 125,022 shares in the company, valued at approximately $5,991,054.24. The trade was a 5.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter Radovich sold 3,177 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $47.92, for a total value of $152,241.84. Following the transaction, the chief operating officer now owns 29,588 shares of the company's stock, valued at $1,417,856.96. This trade represents a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,622 shares of company stock worth $1,398,791 over the last quarter. 22.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legato Capital Management LLC raised its position in Mirum Pharmaceuticals by 7.9% in the 4th quarter. Legato Capital Management LLC now owns 13,395 shares of the company's stock valued at $554,000 after purchasing an additional 977 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at $413,000. Empowered Funds LLC purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $1,376,000. Golden State Equity Partners boosted its stake in shares of Mirum Pharmaceuticals by 1,390.8% during the fourth quarter. Golden State Equity Partners now owns 19,380 shares of the company's stock worth $801,000 after buying an additional 18,080 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Mirum Pharmaceuticals by 10.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,179 shares of the company's stock worth $421,000 after buying an additional 1,003 shares during the last quarter.

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.