Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High - Time to Buy?

Key Points

• Mirum Pharmaceuticals reached a new 52-week high of $78.54 during trading, with analysts generally giving it a strong buy rating and a consensus target of $76.50.
• The company reported earnings that exceeded expectations, with a revenue of $127.79 million for the quarter, representing a 64.1% increase from the previous year.
• Insider activity includes significant stock sales by CEO Christopher Peetz and Director Laura Brege, with the company seeing a 22.39% decrease in the CEO's ownership after a recent transaction.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $78.54 and last traded at $73.82, with a volume of 2092428 shares changing hands. The stock had previously closed at $72.85.

Wall Street Analysts Forecast Growth

MIRM has been the topic of several recent research reports. TD Cowen raised shares of Mirum Pharmaceuticals to a "strong-buy" rating in a report on Thursday, September 25th. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the company a "buy" rating in a report on Monday, August 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a report on Wednesday. Finally, JMP Securities set a $81.00 price objective on shares of Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $76.50.

Mirum Pharmaceuticals Stock Up 1.3%

The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The firm has a market cap of $3.71 billion, a PE ratio of -61.01 and a beta of 0.81. The firm's 50 day moving average is $70.32 and its 200-day moving average is $54.54.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $107.91 million. During the same quarter in the prior year, the business posted ($0.52) earnings per share. Mirum Pharmaceuticals's revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, equities research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 40,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were 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 owned 138,641 shares of the company's stock, valued at approximately $8,595,742. This represents a 22.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laura Brege sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total transaction of $1,264,800.00. Following the transaction, the director directly owned 15,703 shares of the company's stock, valued at $1,168,303.20. This trade represents a 51.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,578 shares of company stock worth $7,262,824. 14.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Large investors have recently made changes to their positions in the business. CWM LLC increased its position in shares of Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after acquiring an additional 428 shares in the last quarter. Comerica Bank increased its position in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after acquiring an additional 278 shares in the last quarter. Quarry LP acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter worth $56,000. Osaic Holdings Inc. increased its position in shares of Mirum Pharmaceuticals by 46.5% in the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company's stock worth $56,000 after acquiring an additional 351 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter worth $89,000.

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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