Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High - Time to 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) reached a new 52-week high on Monday . The stock traded as high as $74.80 and last traded at $71.82, with a volume of 3366 shares trading hands. The stock had previously closed at $71.52.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MIRM. Wall Street Zen cut Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday. Evercore ISI upped their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the stock a "buy" rating in a report on Monday, August 11th. JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $74.13.

Mirum Pharmaceuticals Price Performance

The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $3.58 billion, a P/E ratio of -59.14 and a beta of 0.94. The stock has a 50 day moving average of $54.81 and a 200-day moving average of $48.40.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $127.79 million during the quarter, compared to analyst estimates of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.Mirum Pharmaceuticals's quarterly revenue was up 64.1% compared to the same quarter last year. During the same period last year, the company earned ($0.52) EPS. On average, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the transaction, the senior vice president directly owned 2,426 shares of the company's stock, valued at approximately $140,708. The trade was a 80.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 40,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,041 shares of company stock valued at $5,320,624. Corporate insiders own 22.87% of the company's stock.

Institutional Trading of Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. grew its holdings in Mirum Pharmaceuticals by 3.4% during the first quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock worth $306,120,000 after acquiring an additional 224,729 shares during the period. Janus Henderson Group PLC boosted its position in Mirum Pharmaceuticals by 2.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company's stock worth $189,481,000 after purchasing an additional 101,358 shares in the last quarter. Eventide Asset Management LLC boosted its position in Mirum Pharmaceuticals by 4.4% during the second quarter. Eventide Asset Management LLC now owns 2,637,485 shares of the company's stock worth $134,224,000 after purchasing an additional 110,485 shares in the last quarter. Vanguard Group Inc. boosted its position in Mirum Pharmaceuticals by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after purchasing an additional 115,327 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Mirum Pharmaceuticals by 10.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company's stock worth $58,831,000 after purchasing an additional 138,623 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.

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