Jefferies Financial Group Inc. Takes Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Key Points

• Jefferies Financial Group Inc. has acquired a new position in Mirum Pharmaceuticals, purchasing 23,500 shares valued at approximately $1.06 million during the first quarter.
• Other institutional investors have also increased their stakes in Mirum, with \textstrong{Federated Hermes Inc.} boosting its share ownership by 9,440.4% to a total of 347,366 shares worth $15.65 million.
• Market analysts currently maintain a generally favorable view of Mirum Pharmaceuticals, with an average rating of "Buy" and a consensus price target of $65.50.

Jefferies Financial Group Inc. purchased a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,500 shares of the company's stock, valued at approximately $1,059,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIRM. Federated Hermes Inc. increased its position in shares of Mirum Pharmaceuticals by 9,440.4% during the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock valued at $15,649,000 after purchasing an additional 343,725 shares during the period. Nuveen Asset Management LLC increased its holdings 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 buying an additional 229,746 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter valued at $6,507,000. Marshall Wace LLP lifted its holdings in shares of Mirum Pharmaceuticals by 641.6% during the 4th quarter. Marshall Wace LLP now owns 175,913 shares of the company's stock worth $7,274,000 after acquiring an additional 152,191 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Mirum Pharmaceuticals by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company's stock worth $58,831,000 after acquiring an additional 138,623 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday. JMP Securities increased their price objective on shares of Mirum Pharmaceuticals from $79.00 to $81.00 and gave the company a "market outperform" rating in a report on Thursday. HC Wainwright upped their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday. Finally, Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $70.50.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 564 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total value of $27,213.00. Following the sale, the senior vice president owned 2,903 shares of the company's stock, valued at approximately $140,069.75. The trade was a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.36% of the stock is currently owned by corporate insiders.

Mirum Pharmaceuticals Stock Down 0.2%

Shares of MIRM traded down $0.12 during midday trading on Friday, hitting $59.70. The stock had a trading volume of 457,351 shares, compared to its average volume of 472,153. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.22 and a quick ratio of 3.04. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -49.31 and a beta of 0.94. The company has a 50 day simple moving average of $50.55 and a two-hundred day simple moving average of $47.10. Mirum Pharmaceuticals, Inc. has a twelve month low of $36.86 and a twelve month high of $61.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.19. The company had revenue of $127.79 million during the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 25.43%. The business's quarterly revenue was up 64.1% on a year-over-year basis. During the same period last year, the business earned ($0.52) EPS. On average, analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

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.