Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Up 6% – Should You Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares traded up 6% during trading on Monday . The stock traded as high as $43.85 and last traded at $43.79. 323,240 shares changed hands during trading, a decline of 17% from the average session volume of 390,612 shares. The stock had previously closed at $41.32.

Analysts Set New Price Targets

A number of analysts recently weighed in on MIRM shares. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Leerink Partners increased their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Citigroup lifted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird increased their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Ten 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 data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $57.10.

Mirum Pharmaceuticals Trading Up 6.9 %

The stock has a 50-day simple moving average of $43.07 and a 200 day simple moving average of $40.91. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -22.94 and a beta of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. Mirum Pharmaceuticals’s revenue for the quarter was up 89.4% on a year-over-year basis. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 1,998 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $85,554.36. Following the completion of the transaction, the chief operating officer now owns 27,015 shares in the company, valued at approximately $1,156,782.30. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 7,489 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the sale, the chief executive officer now owns 119,359 shares in the company, valued at $5,110,952.38. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,737 shares of company stock valued at $556,098 over the last 90 days. Insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently made changes to their positions in MIRM. Frazier Life Sciences Management L.P. grew its position in Mirum Pharmaceuticals by 1.2% during the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock valued at $256,245,000 after buying an additional 75,000 shares during the period. State Street Corp grew its position in shares of Mirum Pharmaceuticals by 19.9% during the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after acquiring an additional 297,511 shares during the period. Geode Capital Management LLC increased its stake in shares of Mirum Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock valued at $36,519,000 after purchasing an additional 29,017 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Mirum Pharmaceuticals in the 3rd quarter worth about $28,913,000. Finally, Clearbridge Investments LLC boosted its position in Mirum Pharmaceuticals by 165.5% during the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after purchasing an additional 436,349 shares in the last quarter.

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.