Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 52-Week High - Time to Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) hit a new 52-week high during trading on Monday . The company 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

A number of research analysts recently commented on MIRM shares. HC Wainwright restated a "buy" rating and issued a $73.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, May 19th. Evercore ISI reiterated an "outperform" rating on shares of Mirum Pharmaceuticals in a research report on Friday. JMP Securities lifted their target price on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Wall Street Zen cut Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $65.50.

Mirum Pharmaceuticals Stock Performance

The company has a market capitalization of $2.57 billion, a P/E ratio of -32.29 and a beta of 0.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.22 and a quick ratio of 3.04. The company has a fifty day moving average price of $47.55 and a two-hundred day moving average price of $45.99.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $111.59 million for the quarter, compared to analysts' expectations of $98.47 million. Mirum Pharmaceuticals had a negative return on equity of 33.63% and a negative net margin of 20.39%. The business's quarterly revenue was up 61.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.54) earnings per share. Equities analysts forecast 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 564 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total transaction of $27,213.00. Following the sale, the senior vice president directly owned 2,903 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 22.87% of the company's stock.

Institutional Trading of Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its stake 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 during the period. Jones Financial Companies Lllp lifted its stake in shares of Mirum Pharmaceuticals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock worth $30,000 after acquiring an additional 357 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $35,000. Comerica Bank lifted its stake 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 during the period. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $42,000.

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.