Insider Buying: Mirum Pharmaceuticals (NASDAQ:MIRM) Director Purchases $8,999,984.00 in Stock

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Director Patrick Heron acquired 131,425 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was purchased at an average cost of $68.48 per share, with a total value of $8,999,984.00. Following the completion of the transaction, the director owned 459,010 shares in the company, valued at $31,433,004.80. The trade was a 40.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Mirum Pharmaceuticals Trading Up 2.1%

NASDAQ:MIRM opened at $102.92 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.16 and a current ratio of 3.31. Mirum Pharmaceuticals, Inc. has a one year low of $36.88 and a one year high of $103.81. The business’s 50-day simple moving average is $79.65 and its 200 day simple moving average is $71.96. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -119.67 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.The firm had revenue of $133.01 million during the quarter, compared to analyst estimates of $130.11 million. During the same quarter last year, the firm earned ($0.30) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MIRM has been the topic of several recent analyst reports. Citizens Jmp upped their price target on shares of Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a report on Friday, December 19th. Raymond James Financial restated a “strong-buy” rating and issued a $110.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, December 11th. JMP Securities set a $95.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 5th. TD Cowen reissued a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its holdings in shares of Mirum Pharmaceuticals by 30.8% in the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the last quarter. Legal & General Group Plc increased its position in Mirum Pharmaceuticals by 0.4% in the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock worth $2,189,000 after buying an additional 176 shares during the period. MCF Advisors LLC lifted its stake in Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after buying an additional 185 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Mirum Pharmaceuticals by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company’s stock valued at $504,000 after acquiring an additional 215 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Mirum Pharmaceuticals by 34.0% during the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock valued at $70,000 after acquiring an additional 243 shares during the period.

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.