Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High - Time to 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)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MIRM shares. Evercore ISI raised their target price on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the company a "buy" rating in a research report on Monday, August 11th. HC Wainwright raised their target price on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an "overweight" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $74.44.

Mirum Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The company has a market cap of $3.73 billion, a P/E ratio of -61.41 and a beta of 0.92. The firm has a 50 day moving average price of $62.19 and a two-hundred day moving average price of $50.92.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.19. The company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The firm's quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.52) EPS. On average, analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 9,578 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $76.01, for a total value of $728,023.78. Following the completion of the transaction, the chief financial officer owned 39,945 shares in the company, valued at $3,036,219.45. This trade represents a 19.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $62.00, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold 117,619 shares of company stock worth $7,313,448 in the last 90 days. 22.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MIRM. Deutsche Bank AG boosted its stake in Mirum Pharmaceuticals by 7.7% in the 4th quarter. Deutsche Bank AG now owns 169,323 shares of the company's stock worth $7,002,000 after purchasing an additional 12,060 shares during the period. Millennium Management LLC boosted its stake in Mirum Pharmaceuticals by 15.7% in the 4th quarter. Millennium Management LLC now owns 526,974 shares of the company's stock worth $21,790,000 after purchasing an additional 71,410 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Mirum Pharmaceuticals by 46.7% in the 4th quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after acquiring an additional 229,746 shares in the last quarter. Man Group plc purchased a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at about $289,000. Finally, ProShare Advisors LLC raised its holdings in shares of Mirum Pharmaceuticals by 31.5% in the 4th quarter. ProShare Advisors LLC now owns 13,457 shares of the company's stock valued at $556,000 after acquiring an additional 3,227 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.