TimesSquare Capital Management LLC Invests $43 Million in Mirum Pharmaceuticals, Inc. $MIRM

TimesSquare Capital Management LLC bought a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 367,281 shares of the company's stock, valued at approximately $42,998,000. TimesSquare Capital Management LLC owned approximately 0.60% of Mirum Pharmaceuticals as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. acquired a new position in Mirum Pharmaceuticals in the fourth quarter worth about $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. CIBC Private Wealth Group LLC acquired a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $33,000. Finally, Comerica Bank grew its stake in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after purchasing an additional 278 shares during the period.

Insiders Place Their Bets

In other news, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the sale, the chief financial officer owned 36,355 shares in the company, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 2,721 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total value of $326,520.00. Following the completion of the sale, the senior vice president owned 3,114 shares of the company's stock, valued at approximately $373,680. This trade represents a 46.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 93,156 shares of company stock valued at $9,763,562. 8.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MIRM. CLSA set a $146.00 target price on Mirum Pharmaceuticals in a research report on Monday, June 15th. JPMorgan Chase & Co. upped their price target on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 2nd. Wall Street Zen lowered Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday. Royal Bank Of Canada cut their price objective on Mirum Pharmaceuticals from $148.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.33.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $99.83 on Tuesday. The stock has a market capitalization of $6.48 billion, a P/E ratio of -6.86 and a beta of 0.52. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 1 year low of $63.23 and a 1 year high of $130.00. The firm has a 50 day moving average of $111.04 and a 200-day moving average of $102.03.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The business had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm's revenue was up 37.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Mirum Pharmaceuticals Company 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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