Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 12-Month High - What's Next?

Key Points

• Mirum Pharmaceuticals shares hit a new 52-week high on Monday, trading as high as $125.75 before easing slightly. The move came amid heavy volume of 653,000 shares.
• Analyst sentiment remains bullish, with several firms raising price targets to as high as $145 and the stock carrying a consensus rating of Moderate Buy with an average target of $143.00.
• The company recently reported strong revenue growth of 43.3% year over year, but earnings missed expectations by a wide margin. Insiders have also sold shares recently, while several hedge funds increased their holdings.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $125.75 and last traded at $123.9350, with a volume of 653000 shares changing hands. The stock had previously closed at $125.59.

Analyst Ratings Changes

MIRM has been the subject of a number of research analyst reports. TD Cowen increased their price target on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Royal Bank Of Canada increased their target price on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. HC Wainwright reissued a "buy" rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Finally, Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They set an "outperform" rating and a $145.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $143.00.

Mirum Pharmaceuticals Trading Down 2.7%

The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of -9.09 and a beta of 0.48. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The company has a fifty day moving average price of $103.20 and a 200-day moving average price of $95.99.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The firm had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The company's quarterly revenue was up 43.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) EPS. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 2,721 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total transaction of $326,520.00. Following the transaction, the senior vice president owned 3,114 shares in the company, valued at approximately $373,680. This trade represents a 46.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, June 8th. The shares were sold at an average price of $93.82, for a total transaction of $469,100.00. Following the completion of the sale, the chief financial officer directly owned 44,788 shares of the company's stock, valued at approximately $4,202,010.16. The trade was a 10.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,315 shares of company stock valued at $3,935,278 over the last ninety days. Corporate insiders own 8.32% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Glenmede Trust Co. NA lifted its position in shares of Mirum Pharmaceuticals by 66.9% in the first quarter. Glenmede Trust Co. NA now owns 5,532 shares of the company's stock worth $511,000 after buying an additional 2,217 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock valued at $641,764,000 after acquiring an additional 880,505 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Mirum Pharmaceuticals during the 1st quarter valued at about $573,000. California State Teachers Retirement System increased its holdings in shares of Mirum Pharmaceuticals by 22.1% during the 1st quarter. California State Teachers Retirement System now owns 44,476 shares of the company's stock valued at $4,109,000 after acquiring an additional 8,065 shares during the last quarter. Finally, Rock Springs Capital Management LP raised its stake in shares of Mirum Pharmaceuticals by 6.4% in the 1st quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company's stock valued at $74,947,000 after acquiring an additional 49,000 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.