Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $114.08 and last traded at $112.6720, with a volume of 2558923 shares trading hands. The stock had previously closed at $106.88.
Analyst Ratings Changes
A number of equities analysts recently commented on MIRM shares. Weiss Ratings raised Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Morgan Stanley upped their price objective on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Leerink Partners lowered their target price on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $132.00 price target on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. One equities 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.42.
Get Our Latest Analysis on MIRM
Mirum Pharmaceuticals Price Performance
Mirum Pharmaceuticals (NASDAQ:MIRM – Get Free Report) last posted its 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). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. The company’s revenue was up 43.3% on a year-over-year basis. As a group, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.24 earnings per share for the current fiscal year.
Insider Transactions at Mirum Pharmaceuticals
In related news, CEO Christopher Peetz sold 40,985 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the completion of the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $17,872,541.82. This represents a 17.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joanne Quan sold 7,287 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $670,258.26. Following the completion of the sale, the insider directly owned 18,864 shares of the company’s stock, valued at $1,735,110.72. The trade was a 27.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 76,806 shares of company stock valued at $7,064,616. Corporate insiders own 14.36% of the company’s stock.
Institutional Trading of Mirum Pharmaceuticals
Several institutional investors have recently made changes to their positions in MIRM. Renaissance Technologies LLC lifted its position in shares of Mirum Pharmaceuticals by 32.6% during the first quarter. Renaissance Technologies LLC now owns 582,085 shares of the company’s stock valued at $53,773,000 after purchasing an additional 143,000 shares in the last quarter. Inceptionr LLC bought a new stake in Mirum Pharmaceuticals in the 1st quarter worth about $421,000. Cetera Investment Advisers grew its position in Mirum Pharmaceuticals by 9.3% in the 1st quarter. Cetera Investment Advisers now owns 6,742 shares of the company’s stock worth $623,000 after purchasing an additional 572 shares in the last quarter. First Trust Advisors LP increased its stake in Mirum Pharmaceuticals by 9.9% in the 1st quarter. First Trust Advisors LP now owns 151,272 shares of the company’s stock valued at $13,975,000 after buying an additional 13,572 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Mirum Pharmaceuticals by 121.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,356 shares of the company’s stock valued at $125,000 after buying an additional 744 shares during 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.
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