Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Jumps 4.8% – Time to Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares shot up 4.8% during mid-day trading on Wednesday. The company traded as high as $82.73 and last traded at $83.0680. Approximately 599,622 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 851,888 shares. The stock had previously closed at $79.25.

Wall Street Analyst Weigh In

MIRM has been the topic of a number of recent research reports. Wall Street Zen lowered Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Citizens Jmp reissued a “market outperform” rating and issued a $137.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Finally, Royal Bank Of Canada decreased their target price on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $142.56.

Mirum Pharmaceuticals Stock Up 4.3%

The firm has a market cap of $5.37 billion, a price-to-earnings ratio of -5.69 and a beta of 0.61. The firm has a 50 day moving average of $96.63 and a 200 day moving average of $101.11. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The business had revenue of $176.24 million during the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. Mirum Pharmaceuticals’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) earnings per share. As a group, sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the transaction, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at $19,187,339.20. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the senior vice president owned 1,274 shares of the company’s stock, valued at $127,400. The trade was a 96.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 98,499 shares of company stock worth $9,797,834 in the last quarter. Company insiders own 8.32% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Jupiter Topco LLC acquired a new position in Mirum Pharmaceuticals during the second quarter worth $691,672,000. BlackRock Inc. acquired a new position in shares of Mirum Pharmaceuticals during the second quarter valued at about $513,945,000. William Blair Investment Management LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter worth about $164,453,000. Janus Henderson Group PLC increased its position in shares of Mirum Pharmaceuticals by 14.5% during the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock worth $641,764,000 after acquiring an additional 880,505 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Mirum Pharmaceuticals during the second quarter worth about $78,434,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare diseases of the liver and gastrointestinal system. The company’s work centers on conditions involving impaired bile acid transport and cholestasis, which can cause serious liver damage and debilitating symptoms such as itching.

Mirum’s primary commercial product is Livmarli (maralixibat), an oral ileal bile acid transporter inhibitor. In the United States, Livmarli is approved to treat cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible pediatric patients.