Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Mirum Pharmaceuticals by 29% during the second quarter, holding 11,845 shares valued at approximately $596,000.
• Several analysts have given positive ratings to Mirum Pharmaceuticals, including a "strong-buy" from Wall Street Zen, with a consensus price target of $76.50.
• Mirum Pharmaceuticals reported better-than-expected quarterly earnings with revenue reaching $127.79 million, up 64.1% year-over-year, despite a negative earnings per share of ($0.12).

Wealth Enhancement Advisory Services LLC cut its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 29.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,845 shares of the company's stock after selling 4,840 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Mirum Pharmaceuticals were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Secure Asset Management LLC lifted its position in Mirum Pharmaceuticals by 4.3% during the 2nd quarter. Secure Asset Management LLC now owns 50,997 shares of the company's stock worth $2,595,000 after acquiring an additional 2,087 shares during the period. Rhumbline Advisers lifted its position in Mirum Pharmaceuticals by 4.4% during the 1st quarter. Rhumbline Advisers now owns 55,434 shares of the company's stock worth $2,497,000 after acquiring an additional 2,321 shares during the period. Strs Ohio acquired a new stake in Mirum Pharmaceuticals during the 1st quarter worth approximately $550,000. Intech Investment Management LLC lifted its position in Mirum Pharmaceuticals by 19.0% during the 1st quarter. Intech Investment Management LLC now owns 27,548 shares of the company's stock worth $1,241,000 after acquiring an additional 4,398 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Mirum Pharmaceuticals by 102.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,518 shares of the company's stock worth $6,736,000 after acquiring an additional 75,630 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Wall Street Zen raised Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 26th. JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $76.50.

Insiders Place Their Bets

In other news, CFO Eric Bjerkholt sold 9,578 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $76.01, for a total transaction of $728,023.78. Following the sale, the chief financial officer owned 39,945 shares in the company, valued at $3,036,219.45. This trade represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals 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 completion of the transaction, the senior vice president owned 2,426 shares in the company, valued at $140,708. The trade was a 80.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,578 shares of company stock worth $7,262,824 over the last ninety days. Company insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $72.95 on Friday. Mirum Pharmaceuticals, Inc. has a 52-week low of $36.88 and a 52-week high of $78.10. The stock's fifty day simple moving average is $68.57 and its 200-day simple moving average is $53.87. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -60.29 and a beta of 0.81.

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

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