Raymond James Financial Inc. Purchases New Stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Raymond James Financial Inc. bought a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 256,612 shares of the company's stock, valued at approximately $10,611,000. Raymond James Financial Inc. owned about 0.53% of Mirum Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Aigen Investment Management LP bought a new position in Mirum Pharmaceuticals in the 4th quarter valued at $320,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Mirum Pharmaceuticals by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 332,639 shares of the company's stock worth $13,755,000 after buying an additional 4,478 shares during the last quarter. Jones Financial Companies Lllp grew its position in Mirum Pharmaceuticals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after buying an additional 357 shares during the period. Bank of New York Mellon Corp increased its holdings in Mirum Pharmaceuticals by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 124,328 shares of the company's stock worth $5,141,000 after buying an additional 9,629 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Mirum Pharmaceuticals by 2.4% in the fourth quarter. Rhumbline Advisers now owns 53,113 shares of the company's stock worth $2,196,000 after acquiring an additional 1,236 shares during the period.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM remained flat at $47.02 during mid-day trading on Monday. The stock had a trading volume of 437,261 shares, compared to its average volume of 512,677. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. Mirum Pharmaceuticals, Inc. has a one year low of $23.14 and a one year high of $54.23. The firm has a market capitalization of $2.30 billion, a P/E ratio of -23.28 and a beta of 1.04. The business's 50-day simple moving average is $47.89 and its 200-day simple moving average is $43.71.

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Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $99.41 million for the quarter, compared to the consensus estimate of $96.64 million. As a group, equities research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Analyst Ratings Changes

MIRM has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. HC Wainwright upped their price objective on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Ten investment 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.com, the company has a consensus rating of "Buy" and an average target price of $58.20.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 27,279 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.21, for a total value of $1,206,004.59. Following the sale, the chief executive officer now owns 138,641 shares of the company's stock, valued at $6,129,318.61. This trade represents a 16.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jolanda Howe sold 750 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $32,115.00. Following the transaction, the senior vice president now directly owns 2,926 shares of the company's stock, valued at $125,291.32. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,679 shares of company stock valued at $6,007,081. Company insiders own 22.87% of the company's stock.

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.