Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 12-Month High - Time to Buy?

Key Points

• Mirum Pharmaceuticals hit a new 52-week high, with shares trading as high as $125.39 and recently around $123.00, reflecting strong recent momentum in the stock.
• Analyst sentiment remains mostly positive, with an average “Moderate Buy” rating and an average price target of $139.80, despite one recent downgrade to “sell.”
• Recent fundamentals were mixed: revenue rose 43.3% year over year to $159.88 million, but the company reported a much wider-than-expected quarterly loss and insiders have also been selling shares.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $125.39 and last traded at $123.00, with a volume of 964233 shares. The stock had previously closed at $123.77.

Wall Street Analysts Forecast Growth

MIRM has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. HC Wainwright reiterated a "buy" rating on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Citigroup reaffirmed an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Royal Bank Of Canada increased their price objective on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Finally, Evercore restated an "outperform" rating and set a $138.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $139.80.

Mirum Pharmaceuticals Stock Down 0.6%

The stock's fifty day simple moving average is $101.05 and its 200-day simple moving average is $94.37. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $7.50 billion, a PE ratio of -9.04 and a beta of 0.50.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million during the quarter, compared to analysts' expectations of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.Mirum Pharmaceuticals's quarterly revenue was up 43.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) EPS. As a group, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 2,594 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $101.95, for a total transaction of $264,458.30. Following the completion of the transaction, the senior vice president directly owned 5,835 shares of the company's stock, valued at $594,878.25. This represents a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00. Following the sale, the chief financial officer owned 44,788 shares of the company's stock, valued at approximately $4,202,010.16. The trade was a 10.04% decrease in their position. 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 90 days, insiders have sold 37,594 shares of company stock valued at $3,608,758. Company insiders own 8.32% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MIRM. Janus Henderson Group PLC boosted its holdings in shares of Mirum Pharmaceuticals by 14.5% in the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock worth $641,764,000 after acquiring an additional 880,505 shares during the period. Vanguard Group Inc. raised its stake in shares of Mirum Pharmaceuticals by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company's stock valued at $205,065,000 after purchasing an additional 50,720 shares during the period. State Street Corp lifted its holdings in Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company's stock worth $169,354,000 after purchasing an additional 797,088 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Mirum Pharmaceuticals by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company's stock worth $112,196,000 after purchasing an additional 137,087 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Mirum Pharmaceuticals by 56.6% in the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company's stock worth $97,776,000 after purchasing an additional 447,141 shares during the period.

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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