Federated Hermes Inc. Has $15.65 Million Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Key Points

• Federated Hermes Inc. significantly increased its holdings in Mirum Pharmaceuticals by over 9,440%, owning 347,366 shares valued at approximately $15.65 million as of the latest quarter.
• Mirum Pharmaceuticals reported a revenue increase of 61.2% year-over-year, totaling $111.59 million for the quarter, which surpassed analysts' consensus estimates.
• Despite a negative earnings per share forecast of -1.43 for the current year, Mirum Pharmaceuticals maintains a consensus "Buy" rating from several analysts, with a price target averaging around $65.50.

Federated Hermes Inc. grew its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 9,440.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,366 shares of the company's stock after purchasing an additional 343,725 shares during the period. Federated Hermes Inc. owned about 0.70% of Mirum Pharmaceuticals worth $15,649,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWM LLC increased its position in Mirum Pharmaceuticals by 259.4% in the 1st quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after purchasing an additional 428 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $35,000. GF Fund Management CO. LTD. bought a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $42,000. KBC Group NV bought a new stake in shares of Mirum Pharmaceuticals during the 1st quarter worth about $89,000. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Mirum Pharmaceuticals by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock worth $172,000 after acquiring an additional 312 shares in the last quarter.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $52.02 on Friday. The business has a 50 day moving average price of $49.71 and a 200 day moving average price of $46.88. Mirum Pharmaceuticals, Inc. has a twelve month low of $36.20 and a twelve month high of $54.78. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -32.31 and a beta of 0.94. The company has a quick ratio of 3.04, a current ratio of 3.22 and a debt-to-equity ratio of 1.32.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $98.47 million. During the same quarter last year, the company earned ($0.54) EPS. The company's quarterly revenue was up 61.2% on a year-over-year basis. Research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 564 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total value of $27,213.00. Following the completion of the sale, the senior vice president owned 2,903 shares in the company, valued at approximately $140,069.75. This trade represents a 16.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MIRM. HC Wainwright reiterated a "buy" rating and set a $73.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday, May 19th. Wall Street Zen downgraded Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. JMP Securities upped their price target on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Evercore ISI restated an "outperform" rating on shares of Mirum Pharmaceuticals in a research note on Friday, July 11th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $65.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.