Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 12-Month High - Still a Buy?

Key Points

• Mirum Pharmaceuticals recently reached a new 52-week high of $78.10, with the stock last trading at $77.39.
• Wall Street analysts rate the stock positively, with several price targets set above the current price, including Evercore ISI's target of $89.00.
• The company reported a 64.1% increase in quarterly revenue, totaling $127.79 million, while beating earnings estimates with an EPS of -$0.12.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $78.10 and last traded at $77.39, with a volume of 505246 shares trading hands. The stock had previously closed at $76.06.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, August 8th. HC Wainwright boosted their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. Finally, Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the company a "buy" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals presently has an average rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The business has a 50-day simple moving average of $60.08 and a 200-day simple moving average of $50.19. The firm has a market capitalization of $3.89 billion, a PE ratio of -63.96 and a beta of 0.92.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued 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 business had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. During the same period in the prior year, the business posted ($0.52) earnings per share. The company's quarterly revenue was up 64.1% compared to the same quarter last year. Equities research analysts expect 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 Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the firm'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 directly owned 138,641 shares of the company's stock, valued at approximately $8,595,742. This trade represents a 22.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the sale, the senior vice president owned 2,426 shares of the company's stock, 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. Insiders have sold a total of 91,041 shares of company stock worth $5,320,624 in the last ninety days. Insiders own 22.87% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors have recently modified their holdings of MIRM. Northern Trust Corp raised its stake in shares of Mirum Pharmaceuticals by 8.7% during the 4th quarter. Northern Trust Corp now owns 399,544 shares of the company's stock valued at $16,521,000 after buying an additional 32,059 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $775,000. Deutsche Bank AG raised its stake in shares of Mirum Pharmaceuticals by 7.7% during the 4th quarter. Deutsche Bank AG now owns 169,323 shares of the company's stock valued at $7,002,000 after buying an additional 12,060 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $6,507,000. Finally, Janus Henderson Group PLC raised its stake in shares of Mirum Pharmaceuticals by 2.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company's stock valued at $189,481,000 after buying an additional 101,358 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.

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