Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Up 4.8%

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shot up 4.8% during trading on Monday . The stock traded as high as $43.08 and last traded at $43.08. 82,802 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 622,579 shares. The stock had previously closed at $41.12.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MIRM. Stifel Nicolaus restated a “buy” rating and issued a $48.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday, June 17th. HC Wainwright reiterated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research note on Friday, July 26th. Citigroup increased their price objective on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Evercore ISI increased their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $56.27.

Mirum Pharmaceuticals Trading Down 0.9 %

The business’s 50 day moving average price is $38.31 and its two-hundred day moving average price is $30.50. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -11.82 and a beta of 1.15. The company has a current ratio of 3.68, a quick ratio of 3.47 and a debt-to-equity ratio of 1.31.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The business had revenue of $77.90 million during the quarter, compared to the consensus estimate of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The firm’s quarterly revenue was up 107.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.92) EPS. On average, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In related news, Director Saira Ramasastry sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mirum Pharmaceuticals news, insider Pamela Vig sold 30,559 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the transaction, the insider now owns 27,406 shares in the company, valued at approximately $931,804. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The disclosure for this sale can be found here. Insiders sold a total of 35,934 shares of company stock worth $1,180,156 in the last quarter. 22.87% of the stock is owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

Large investors have recently modified their holdings of the stock. First Turn Management LLC acquired a new stake in Mirum Pharmaceuticals in the 4th quarter valued at $24,688,000. Janus Henderson Group PLC grew its position in Mirum Pharmaceuticals by 34.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after purchasing an additional 704,659 shares during the period. Candriam S.C.A. acquired a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at $17,384,000. Cadian Capital Management LP grew its position in Mirum Pharmaceuticals by 34.8% in the 4th quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock valued at $57,119,000 after purchasing an additional 500,000 shares during the period. Finally, Clearbridge Investments LLC grew its position in Mirum Pharmaceuticals by 165.5% in the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after purchasing an additional 436,349 shares during the period.

About Mirum Pharmaceuticals

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.