Contravisory Investment Management Inc. Purchases New Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Contravisory Investment Management Inc. has purchased a new stake in Mirum Pharmaceuticals, acquiring 5,307 shares valued at approximately $270,000.
• Analyst ratings for Mirum Pharmaceuticals remain positive, with a consensus rating of "Buy" and an average price target of $74.44.
• Mirum Pharmaceuticals reported a revenue increase of 64.1% year-over-year, with earnings per share of ($0.12), surpassing analysts' estimates.

Contravisory Investment Management Inc. purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,307 shares of the company's stock, valued at approximately $270,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. increased its position in Mirum Pharmaceuticals by 3.4% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock valued at $306,120,000 after acquiring an additional 224,729 shares during the period. Vanguard Group Inc. increased its position in Mirum Pharmaceuticals by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock valued at $114,430,000 after acquiring an additional 115,327 shares during the period. Nuveen Asset Management LLC increased its position in Mirum Pharmaceuticals by 46.7% in the 4th quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after acquiring an additional 229,746 shares during the period. Nuveen LLC acquired a new position in Mirum Pharmaceuticals in the 1st quarter valued at about $29,495,000. Finally, Woodline Partners LP increased its position in Mirum Pharmaceuticals by 40.0% in the 1st quarter. Woodline Partners LP now owns 566,271 shares of the company's stock valued at $25,511,000 after acquiring an additional 161,867 shares during the period.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. Evercore ISI boosted their target price on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen cut Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. Finally, JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $74.44.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $75.32 on Friday. The stock has a market cap of $3.78 billion, a P/E ratio of -62.25 and a beta of 0.92. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The stock's 50 day simple moving average is $63.98 and its 200 day simple moving average is $51.62. Mirum Pharmaceuticals, Inc. has a 1-year low of $36.88 and a 1-year high of $78.10.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.19. The business had revenue of $127.79 million for the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The company's revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.52) EPS. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Laura Brege sold 17,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total transaction of $1,264,800.00. Following the sale, the director owned 15,703 shares in the company, valued at approximately $1,168,303.20. This represents a 51.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jolanda Howe sold 10,000 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,619 shares of company stock worth $7,313,448. 14.36% of the stock is currently owned by insiders.

Mirum Pharmaceuticals 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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