Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High - What's Next?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $54.78 and last traded at $53.28, with a volume of 705635 shares traded. The stock had previously closed at $52.66.

Analyst Ratings Changes

Several research firms recently commented on MIRM. Evercore ISI reiterated an "outperform" rating on shares of Mirum Pharmaceuticals in a research report on Friday, July 11th. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $73.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday, May 19th. JMP Securities raised their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $65.50.

Mirum Pharmaceuticals Stock Down 0.1%

The company's 50 day moving average price is $48.15 and its two-hundred day moving average price is $46.16. The company has a quick ratio of 3.04, a current ratio of 3.22 and a debt-to-equity ratio of 1.32. The stock has a market cap of $2.61 billion, a P/E ratio of -32.75 and a beta of 0.97.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative net margin of 20.39% and a negative return on equity of 33.63%. The firm had revenue of $111.59 million during the quarter, compared to the consensus estimate of $98.47 million. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. The company's revenue was up 61.2% on a year-over-year basis. As a group, research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 564 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $48.25, for a total transaction of $27,213.00. Following the completion of the sale, the senior vice president owned 2,903 shares of the company's stock, valued at approximately $140,069.75. The trade was a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 14.36% of the company's stock.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds have recently bought and sold shares of MIRM. Jones Financial Companies Lllp grew its stake in Mirum Pharmaceuticals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after purchasing an additional 357 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Mirum Pharmaceuticals by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 332,639 shares of the company's stock valued at $13,755,000 after purchasing an additional 4,478 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at about $10,611,000. AlphaQuest LLC grew its stake in Mirum Pharmaceuticals by 969.6% in the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock valued at $76,000 after purchasing an additional 1,658 shares during the last quarter. Finally, Swiss National Bank grew its stake in Mirum Pharmaceuticals by 1.9% in the fourth quarter. Swiss National Bank now owns 70,300 shares of the company's stock valued at $2,907,000 after purchasing an additional 1,300 shares during 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.