Mirum Pharmaceuticals, Inc. $MIRM Shares Purchased by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management boosted its Mirum Pharmaceuticals stake by 31.7% in the fourth quarter, ending with 395,827 shares worth about $31.3 million.
• Several other institutional investors also increased or initiated positions, while insiders were net sellers: CEO Christopher Peetz and CFO Eric Bjerkholt both sold shares in March, and insiders sold 76,806 shares over the last 90 days.
• Mirum reported strong revenue growth in its latest quarter, with sales up 43.3% year over year to $159.9 million, though earnings came in well below expectations. Analysts remain mostly bullish, with a consensus rating of Moderate Buy and an average price target of $136.42.

TimesSquare Capital Management LLC lifted its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 31.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 395,827 shares of the company's stock after acquiring an additional 95,178 shares during the quarter. TimesSquare Capital Management LLC owned 0.77% of Mirum Pharmaceuticals worth $31,266,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Emerald Advisers LLC lifted its holdings in shares of Mirum Pharmaceuticals by 20.9% in the 3rd quarter. Emerald Advisers LLC now owns 369,600 shares of the company's stock worth $27,095,000 after acquiring an additional 63,834 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $1,478,000. Candriam S.C.A. lifted its holdings in shares of Mirum Pharmaceuticals by 8.0% in the 3rd quarter. Candriam S.C.A. now owns 403,026 shares of the company's stock worth $29,546,000 after acquiring an additional 30,021 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $808,000. Finally, TD Asset Management Inc acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $1,129,000.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 7,287 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $670,258.26. Following the sale, the chief financial officer directly owned 49,788 shares of the company's stock, valued at approximately $4,579,500.24. This represents a 12.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Peetz sold 40,985 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the completion of the sale, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $17,872,541.82. This represents a 17.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 76,806 shares of company stock worth $7,064,616. Corporate insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $95.49 on Tuesday. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $42.89 and a fifty-two week high of $114.99. The firm's 50 day moving average price is $95.52 and its 200 day moving average price is $87.79. The company has a market cap of $5.82 billion, a P/E ratio of -7.02 and a beta of 0.52. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business had revenue of $159.88 million for the quarter, compared to analysts' expectations of $148.21 million. During the same period in the previous year, the company earned ($0.30) earnings per share. Mirum Pharmaceuticals's quarterly revenue was up 43.3% on a year-over-year basis. On average, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on MIRM. Evercore restated an "outperform" rating and issued a $138.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Morgan Stanley upped their target price on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Leerink Partners cut their target price on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Royal Bank Of Canada upped their target price on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $136.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $136.42.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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