Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 12-Month High - Should You Buy?

Key Points

• Mirum Pharmaceuticals reached a new 12-month high stock price of $76.02, closing at $75.44, with significant trading volume of 60,707 shares.
• Analysts have generally given the stock a positive outlook, with consensus ratings of "Buy" and price targets ranging from $73.00 to $89.00.
• The company reported a quarterly earnings per share (EPS) of ($0.12), exceeding estimates, and a revenue increase of 64.1% year-over-year, amounting to $127.79 million.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $76.02 and last traded at $75.44, with a volume of 60707 shares changing hands. The stock had previously closed at $74.34.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. HC Wainwright boosted their price target on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. Finally, Evercore ISI boosted their price target on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Trading Down 0.1%

The company has a market cap of $3.73 billion, a P/E ratio of -61.43 and a beta of 0.92. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The stock's 50-day moving average is $58.09 and its two-hundred day moving average is $49.55.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) 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 firm had revenue of $127.79 million during the quarter, compared to analysts' expectations of $107.91 million. During the same period in the prior year, the company posted ($0.52) earnings per share. The company's revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jolanda Howe sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the transaction, the chief executive officer directly owned 138,641 shares in the company, valued at $8,595,742. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,041 shares of company stock valued at $5,320,624 in the last 90 days. Company insiders own 22.87% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Mirum Pharmaceuticals by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 43,010 shares of the company's stock worth $2,189,000 after buying an additional 176 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Mirum Pharmaceuticals by 2.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company's stock worth $504,000 after buying an additional 215 shares during the last quarter. Palumbo Wealth Management LLC grew its position in shares of Mirum Pharmaceuticals by 4.2% in the 2nd quarter. Palumbo Wealth Management LLC now owns 5,604 shares of the company's stock worth $285,000 after buying an additional 228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Mirum Pharmaceuticals by 14.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,914 shares of the company's stock worth $97,000 after buying an additional 248 shares during the last quarter. Finally, Comerica Bank grew its position in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after buying an additional 278 shares during the last quarter.

About Mirum Pharmaceuticals

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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