Mirum Pharmaceuticals (NASDAQ:MIRM) Hits New 12-Month High – Here’s What Happened

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares reached a new 52-week high on Wednesday . The stock traded as high as $83.75 and last traded at $81.9450, with a volume of 523226 shares traded. The stock had previously closed at $76.46.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MIRM shares. HC Wainwright boosted their price objective on Mirum Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Cowen assumed coverage on Mirum Pharmaceuticals in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Robert W. Baird increased their price objective on Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. raised their price objective on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, Stifel Nicolaus upped their target price on shares of Mirum Pharmaceuticals from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $100.25.

Mirum Pharmaceuticals Price Performance

The stock has a 50 day simple moving average of $72.23 and a two-hundred day simple moving average of $67.28. The company has a market cap of $4.21 billion, a price-to-earnings ratio of -95.32 and a beta of 0.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.31 and a quick ratio of 3.16.

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

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MIRM. Tudor Investment Corp ET AL acquired a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $2,027,000. CIBC Bancorp USA Inc. purchased a new position in Mirum Pharmaceuticals in the third quarter worth approximately $315,000. PharVision Advisers LLC purchased a new position in Mirum Pharmaceuticals in the third quarter worth approximately $273,000. Virtus Advisers LLC acquired a new stake in Mirum Pharmaceuticals during the third quarter worth $293,000. Finally, Voleon Capital Management LP purchased a new stake in Mirum Pharmaceuticals in the third quarter valued at $6,343,000.

About Mirum Pharmaceuticals

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.