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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $45.67 and last traded at $43.04, with a volume of 170658 shares. The stock had previously closed at $41.61.

Analyst Ratings Changes

Several research firms have weighed in on MIRM. Cantor Fitzgerald lifted their target price on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. HC Wainwright reaffirmed a "buy" rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Friday, October 11th. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Evercore ISI boosted their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Finally, Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $56.82.

Mirum Pharmaceuticals Stock Up 3.3 %

The company has a quick ratio of 3.09, a current ratio of 3.28 and a debt-to-equity ratio of 1.34. The stock has a market cap of $2.05 billion, a PE ratio of -18.17 and a beta of 1.16. The firm has a fifty day moving average of $39.90 and a 200 day moving average of $35.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MIRM. Quest Partners LLC boosted its holdings in Mirum Pharmaceuticals by 7,513.3% in the second quarter. Quest Partners LLC now owns 1,142 shares of the company's stock valued at $39,000 after purchasing an additional 1,127 shares in the last quarter. Amalgamated Bank lifted its position in shares of Mirum Pharmaceuticals by 60.8% during the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company's stock worth $46,000 after buying an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company's stock valued at $67,000 after buying an additional 318 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at $213,000. Finally, Creative Planning acquired a new stake in Mirum Pharmaceuticals during the 3rd quarter worth $249,000.

Mirum Pharmaceuticals Company 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.

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