52,246 Shares of Mirum Pharmaceuticals, Inc. $MIRM Purchased by Secure Asset Management LLC

Key Points

• Secure Asset Management LLC acquired 52,246 Mirum Pharmaceuticals shares worth approximately $4.47 million, representing about 0.08% of the company. Several other institutional investors also recently initiated or increased positions.
• Mirum reported quarterly revenue of $176.24 million, up 37.9% year over year and above estimates, but its adjusted loss of $1.06 per share missed the consensus estimate of $0.74.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $147.88 versus the reported share price of $82.24; meanwhile, insiders sold nearly 98,500 shares during the quarter.

Secure Asset Management LLC purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 52,246 shares of the company's stock, valued at approximately $4,466,000. Secure Asset Management LLC owned approximately 0.08% of Mirum Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Mirum Pharmaceuticals during the second quarter worth approximately $513,945,000. Emerald Advisers LLC boosted its holdings in shares of Mirum Pharmaceuticals by 8.2% in the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company's stock worth $36,699,000 after acquiring an additional 30,129 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $12,956,000. Lisanti Capital Growth LLC acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $7,410,000. Finally, Jupiter Topco LLC acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $691,672,000.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $82.24 on Tuesday. Mirum Pharmaceuticals, Inc. has a 1 year low of $63.23 and a 1 year high of $130.00. The firm's 50 day moving average is $92.72 and its 200-day moving average is $100.65. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The company had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. Mirum Pharmaceuticals's revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. As a group, research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the transaction, the chief financial officer owned 36,355 shares of the company's stock, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the transaction, the senior vice president owned 1,274 shares in the company, valued at $127,400. The trade was a 96.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 98,499 shares of company stock valued at $9,797,834. 8.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. TD Cowen restated a "buy" rating on shares of Mirum Pharmaceuticals in a research report on Monday, October 12th. HC Wainwright lifted their price objective on Mirum Pharmaceuticals from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Morgan Stanley boosted their price objective on Mirum Pharmaceuticals from $137.00 to $152.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. JPMorgan Chase & Co. boosted their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. Finally, Citizens Jmp restated a "market outperform" rating and set a $137.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $147.88.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company's medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum's lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.

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