Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 52-Week High After Analyst Upgrade

Key Points

• Shares hit a new 52-week high after HC Wainwright raised its price target to $175 (from $150); MIRM traded as high as $110.49 (last $105.79) on ~2.06M shares, while the MarketBeat consensus price target is $125.25 and the average rating is "Moderate Buy."
• Insiders sold 76,806 shares worth $7.06M over the last 90 days (including sales by SVP Jolanda Howe and Joanne Quan), though insiders still control 22.87% of the company's stock.
• Mirum reported quarterly EPS of ($0.11), missing the $0.02 estimate, while revenue rose 49.8% YoY to $148.93M; the company remains unprofitable with a negative net margin and a market cap of about $6.45 billion.

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after HC Wainwright raised their price target on the stock from $150.00 to $175.00. HC Wainwright currently has a buy rating on the stock. Mirum Pharmaceuticals traded as high as $110.49 and last traded at $105.79, with a volume of 2060424 shares changing hands. The stock had previously closed at $96.53.

A number of other equities analysts have also recently issued reports on MIRM. Citizens Jmp restated a "market outperform" rating and issued a $132.00 price objective on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. Morgan Stanley increased their price objective on shares of Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday, February 28th. Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $95.00 to $112.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Finally, TD Cowen increased their price objective on shares of Mirum Pharmaceuticals from $117.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $125.25.

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Insider Buying and Selling at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $435,249.36. Following the completion of the sale, the senior vice president owned 8,429 shares in the company, valued at $775,299.42. This trade represents a 35.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joanne Quan sold 7,287 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the sale, the insider owned 18,864 shares of the company's stock, valued at $1,735,110.72. This trade represents a 27.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 76,806 shares of company stock worth $7,064,616 over the last ninety days. Company insiders own 22.87% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Faithward Advisors LLC increased its position in shares of Mirum Pharmaceuticals by 0.5% during the 1st quarter. Faithward Advisors LLC now owns 27,467 shares of the company's stock worth $2,537,000 after purchasing an additional 126 shares in the last quarter. CWM LLC increased its position in shares of Mirum Pharmaceuticals by 30.8% during the 3rd quarter. CWM LLC now owns 683 shares of the company's stock worth $50,000 after purchasing an additional 161 shares in the last quarter. MCF Advisors LLC increased its position in Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company's stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Mirum Pharmaceuticals by 6.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock valued at $253,000 after acquiring an additional 200 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in Mirum Pharmaceuticals by 34.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 957 shares of the company's stock valued at $70,000 after acquiring an additional 243 shares in the last quarter.

Mirum Pharmaceuticals Stock Up 9.6%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.55 and a current ratio of 2.67. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -220.39 and a beta of 0.52. The firm's 50-day simple moving average is $93.78 and its two-hundred day simple moving average is $85.40.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). The company had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The company's revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 EPS. On average, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.77 EPS for the current fiscal year.

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.

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