Raymond James Financial Inc. Lowers Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Raymond James Financial Inc. decreased its stake in Mirum Pharmaceuticals by 2.8%, holding 249,318 shares worth approximately $11.2 million after selling 7,294 shares in the first quarter.
• Mirum Pharmaceuticals reported a 64.1% increase in quarterly revenue year-over-year, totaling $127.79 million, while its EPS of ($0.12) surpassed analyst expectations.
• Analysts recently set new price targets for Mirum Pharmaceuticals, with Evercore ISI raising the target from $77 to $89 and several firms maintaining a "buy" rating based on an average target price of $74.13.

Raymond James Financial Inc. reduced its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 249,318 shares of the company's stock after selling 7,294 shares during the quarter. Raymond James Financial Inc. owned 0.50% of Mirum Pharmaceuticals worth $11,232,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its position in Mirum Pharmaceuticals by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company's stock valued at $752,000 after buying an additional 339 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Mirum Pharmaceuticals by 3.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,998 shares of the company's stock worth $495,000 after acquiring an additional 398 shares during the period. CWM LLC boosted its holdings in shares of Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after acquiring an additional 428 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Mirum Pharmaceuticals by 2.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,200 shares of the company's stock worth $711,000 after acquiring an additional 487 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Mirum Pharmaceuticals by 12.1% during the first quarter. Allianz Asset Management GmbH now owns 6,500 shares of the company's stock worth $293,000 after acquiring an additional 700 shares during the period.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was 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 $140,708. The trade was a 80.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher Peetz sold 40,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares in the company, valued at $8,595,742. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,041 shares of company stock valued at $5,320,624 in the last three months. 14.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MIRM has been the topic of a number of analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. JMP Securities set a $81.00 price target on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a report on Thursday, August 7th. HC Wainwright upped their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wall Street Zen downgraded Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, August 25th. Finally, Evercore ISI boosted their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $74.13.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM traded down $0.77 during trading hours on Thursday, reaching $73.85. The company's stock had a trading volume of 349,918 shares, compared to its average volume of 525,791. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $36.86 and a fifty-two week high of $76.02. The stock has a market cap of $3.71 billion, a PE ratio of -61.02 and a beta of 0.92. 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 company's 50-day moving average is $58.58 and its two-hundred day moving average is $49.73.

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