Palumbo Wealth Management LLC Purchases Shares of 5,376 Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

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

A number of other hedge funds have also bought and sold shares of MIRM. Allspring Global Investments Holdings LLC bought a new position in Mirum Pharmaceuticals during the fourth quarter valued at $413,000. Rhumbline Advisers increased its position in Mirum Pharmaceuticals by 2.4% during the fourth quarter. Rhumbline Advisers now owns 53,113 shares of the company's stock valued at $2,196,000 after acquiring an additional 1,236 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $5,141,000 after acquiring an additional 9,629 shares during the last quarter. Jones Financial Companies Lllp increased 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 acquiring an additional 357 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Mirum Pharmaceuticals by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 332,639 shares of the company's stock worth $13,755,000 after purchasing an additional 4,478 shares during the last quarter.

Analysts Set New Price Targets

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

Mirum Pharmaceuticals Stock Down 1.9%

Mirum Pharmaceuticals stock traded down $0.98 during midday trading on Wednesday, hitting $50.13. 272,409 shares of the company's stock were exchanged, compared to its average volume of 474,034. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.04 and a current ratio of 3.22. Mirum Pharmaceuticals, Inc. has a 12 month low of $32.34 and a 12 month high of $54.23. The firm has a 50-day moving average of $45.00 and a two-hundred day moving average of $45.15. The company has a market cap of $2.48 billion, a PE ratio of -31.14 and a beta of 0.95.

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