Palumbo Wealth Management LLC Takes Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Palumbo Wealth Management LLC purchased a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,376 shares of the company's stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock worth $30,000 after purchasing an additional 357 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $42,000. AlphaQuest LLC lifted its position in Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock valued at $76,000 after buying an additional 1,658 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in Mirum Pharmaceuticals by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock worth $172,000 after buying an additional 312 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MIRM shares. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. JMP Securities raised their price objective on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and issued a $73.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, May 19th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Tuesday, May 13th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $65.50.

Mirum Pharmaceuticals Stock Up 1.0%

Shares of NASDAQ:MIRM traded up $0.53 during trading on Friday, hitting $51.09. The company's stock had a trading volume of 939,544 shares, compared to its average volume of 474,884. The company has a market capitalization of $2.53 billion, a PE ratio of -31.73 and a beta of 0.95. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $32.47 and a fifty-two week high of $54.23. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.04 and a current ratio of 3.22. The stock's 50-day moving average price is $45.23 and its two-hundred day moving average price is $45.20.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 33.63% and a negative net margin of 20.39%. The company had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. During the same period in the prior year, the company posted ($0.54) EPS. Mirum Pharmaceuticals's quarterly revenue was up 61.2% on a year-over-year basis. As a group, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

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.