SBI Okasan Asset Management Co.Ltd. Buys Shares of 16,000 Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• SBI Okasan Asset Management opened a new position in Mirum Pharmaceuticals, buying 16,000 shares worth about $1.28 million in the fourth quarter.
• Mirum reported mixed quarterly results: revenue rose 43.3% year over year to $159.88 million, but EPS came in far below expectations at ($13.43) versus the consensus estimate of ($0.75).
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $137.08, even after some recent insider selling and a small stock price gain.

SBI Okasan Asset Management Co.Ltd. purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,000 shares of the company's stock, valued at approximately $1,283,000.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at approximately $1,478,000. Candriam S.C.A. boosted its stake 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 valued at $29,546,000 after purchasing an additional 30,021 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $22,041,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $808,000. Finally, TD Asset Management Inc acquired a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $1,129,000.

Mirum Pharmaceuticals Stock Up 2.3%

Mirum Pharmaceuticals stock opened at $99.60 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. Mirum Pharmaceuticals, Inc. has a 52-week low of $43.30 and a 52-week high of $114.99. The firm has a 50 day moving average price of $96.70 and a two-hundred day moving average price of $89.36. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -7.32 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) 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 firm had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. During the same quarter in the previous year, the business posted ($0.30) EPS. The firm's revenue for the quarter was up 43.3% compared to the same quarter last year. Equities analysts predict that Mirum Pharmaceuticals, Inc. will post -2.11 EPS for the current year.

Insider Activity

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 16,515 shares of the firm's 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 $1,519,049.70. Following the completion of the transaction, the chief operating officer owned 40,272 shares in the company, valued at approximately $3,704,218.56. This trade represents a 29.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Peetz sold 40,985 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the transaction, the chief executive officer owned 194,309 shares of the company's stock, valued at approximately $17,872,541.82. The trade was a 17.42% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 76,806 shares of company stock worth $7,064,616. 14.36% of the stock is owned by insiders.

Analysts Set New Price Targets

MIRM has been the topic of a number of research analyst reports. Leerink Partners reduced their price target 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. Weiss Ratings downgraded shares of Mirum Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. Evercore reiterated an "outperform" rating and set a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Royal Bank Of Canada lifted their target price on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Finally, Wolfe Research started coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They set an "outperform" rating and a $145.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $137.08.

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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