Oak Ridge Investments LLC Invests $922,000 in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Oak Ridge Investments LLC has invested approximately $922,000 in Mirum Pharmaceuticals, acquiring 18,115 shares in the second quarter.
• Mirum Pharmaceuticals reported a significant quarterly revenue of $127.79 million, surpassing analysts' expectations of $107.91 million, with a year-over-year revenue increase of 64.1%.
• Several brokerages have recently upgraded Mirum Pharmaceuticals’ rating, with TD Cowen and Wall Street Zen both assigning a "strong-buy" rating, while the average consensus rating remains a "Buy".

Oak Ridge Investments LLC bought a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,115 shares of the company's stock, valued at approximately $922,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Mirum Pharmaceuticals by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after purchasing an additional 115,327 shares during the period. GAMMA Investing LLC raised its position in Mirum Pharmaceuticals by 4,555.0% during the first quarter. GAMMA Investing LLC now owns 5,586 shares of the company's stock valued at $252,000 after buying an additional 5,466 shares during the period. SG Americas Securities LLC raised its position in Mirum Pharmaceuticals by 174.9% during the first quarter. SG Americas Securities LLC now owns 19,182 shares of the company's stock valued at $864,000 after buying an additional 12,204 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Mirum Pharmaceuticals by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company's stock valued at $752,000 after purchasing an additional 339 shares in the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in Mirum Pharmaceuticals in the second quarter valued at about $270,000.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $72.71 on Monday. Mirum Pharmaceuticals, Inc. has a twelve month low of $36.88 and a twelve month high of $78.54. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The stock has a market capitalization of $3.65 billion, a PE ratio of -60.09 and a beta of 0.81. The stock has a 50-day simple moving average of $70.73 and a 200 day simple moving average of $54.83.

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 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 during the quarter, compared to analysts' expectations of $107.91 million. During the same quarter in the previous year, the firm earned ($0.52) EPS. The firm's revenue was up 64.1% compared to the same quarter last year. Research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MIRM. TD Cowen upgraded Mirum Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen upgraded Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. Cowen assumed coverage on Mirum Pharmaceuticals in a research note on Wednesday, September 24th. They set a "buy" rating for the company. Finally, JMP Securities set a $81.00 price target on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $76.50.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Laura Brege sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total value of $1,264,800.00. Following the completion of the transaction, the director owned 15,703 shares of the company's stock, valued at $1,168,303.20. This represents a 51.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jolanda Howe sold 10,000 shares of the company's stock in a transaction that occurred 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 directly owned 2,426 shares of the company's stock, 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 quarter, insiders sold 116,578 shares of company stock worth $7,262,824. Insiders own 22.87% of the company's stock.

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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