Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 1-Year High - Should You Buy?

Key Points

• Mirum Pharmaceuticals reached a new 52-week high of $74.80, closing at $71.82 on its last trading day, with a trading volume of 3,366 shares.
• Wall Street analysts have mixed ratings for Mirum, with a consensus rating of "Buy" and a target price of $74.13, while some analysts have raised their target prices, expecting further growth.
• In recent insider trading, CEO Christopher Peetz sold 40,000 shares, representing a 22.39% reduction in his ownership, indicating significant trading activity among company insiders.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.80 and last traded at $71.82, with a volume of 3366 shares changing hands. The stock had previously closed at $71.52.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. HC Wainwright boosted their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Wall Street Zen cut Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. Evercore ISI boosted their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $74.13.

Mirum Pharmaceuticals Stock Performance

The stock has a market capitalization of $3.71 billion, a P/E ratio of -61.05 and a beta of 0.94. The company has a 50 day simple moving average of $57.15 and a 200-day simple moving average of $49.24. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $107.91 million. During the same period in the previous year, the company posted ($0.52) EPS. The firm's revenue for the quarter was up 64.1% compared to the same quarter last year. On average, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 138,641 shares in the company, valued at approximately $8,595,742. The trade was a 22.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. The trade was a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,041 shares of company stock worth $5,320,624. 14.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC grew its position in Mirum Pharmaceuticals by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 24,085 shares of the company's stock worth $996,000 after buying an additional 1,356 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Mirum Pharmaceuticals by 260.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,112 shares of the company's stock worth $211,000 after buying an additional 3,694 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Mirum Pharmaceuticals during the fourth quarter worth about $269,000. Tudor Investment Corp ET AL purchased a new position in Mirum Pharmaceuticals during the fourth quarter worth about $991,000. Finally, Northern Trust Corp grew its position in Mirum Pharmaceuticals by 8.7% during the fourth quarter. Northern Trust Corp now owns 399,544 shares of the company's stock worth $16,521,000 after buying an additional 32,059 shares in the last quarter.

Mirum Pharmaceuticals Company 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.