Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 1-Year Low at $24.17

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $24.17 and last traded at $24.44, with a volume of 13150 shares. The stock had previously closed at $24.58.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. SVB Leerink dropped their price objective on Mirum Pharmaceuticals from $44.00 to $43.00 and set an "outperform" rating on the stock in a research note on Monday, March 18th. JMP Securities lifted their price target on Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, March 14th. HC Wainwright restated a "buy" rating and set a $58.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, April 2nd. Raymond James cut their price target on Mirum Pharmaceuticals from $78.00 to $64.00 and set a "strong-buy" rating for the company in a research note on Tuesday, December 19th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $35.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, February 29th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $52.11.

Mirum Pharmaceuticals Stock Performance

The company's 50-day moving average price is $27.21 and its two-hundred day moving average price is $28.70. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.19 and a current ratio of 4.45. The stock has a market cap of $1.12 billion, a PE ratio of -6.16 and a beta of 1.14.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.32). The firm had revenue of $69.55 million during the quarter, compared to analysts' expectations of $66.73 million. Mirum Pharmaceuticals had a negative net margin of 86.33% and a negative return on equity of 66.24%. On average, equities research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.12 EPS for the current year.

Insider Buying and Selling

In other news, COO Peter Radovich sold 4,303 shares of the business's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $25.80, for a total transaction of $111,017.40. Following the completion of the transaction, the chief operating officer now directly owns 29,013 shares of the company's stock, valued at $748,535.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt acquired 2,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the transaction, the chief financial officer now directly owns 14,000 shares of the company's stock, valued at $347,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter Radovich sold 4,303 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $25.80, for a total transaction of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares of the company's stock, valued at approximately $748,535.40. The disclosure for this sale can be found here. 24.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. boosted its holdings in shares of Mirum Pharmaceuticals by 0.4% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 6,495,392 shares of the company's stock valued at $191,744,000 after buying an additional 25,000 shares in the last quarter. Eventide Asset Management LLC lifted its stake in shares of Mirum Pharmaceuticals by 14.4% in the 3rd quarter. Eventide Asset Management LLC now owns 3,958,579 shares of the company's stock valued at $125,091,000 after purchasing an additional 499,378 shares during the period. Vanguard Group Inc. raised its position in Mirum Pharmaceuticals by 46.2% during the fourth quarter. Vanguard Group Inc. now owns 2,476,244 shares of the company's stock worth $73,099,000 after acquiring an additional 782,901 shares during the period. BlackRock Inc. raised its position in Mirum Pharmaceuticals by 18.7% during the second quarter. BlackRock Inc. now owns 2,030,375 shares of the company's stock worth $52,526,000 after acquiring an additional 320,549 shares during the period. Finally, Cadian Capital Management LP raised its position in Mirum Pharmaceuticals by 34.8% during the fourth quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company's stock worth $57,119,000 after acquiring an additional 500,000 shares during the period.

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.