Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High – Time to Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $90.08 and last traded at $89.50, with a volume of 1229452 shares trading hands. The stock had previously closed at $86.57.

Analyst Ratings Changes

Several brokerages recently issued reports on MIRM. Robert W. Baird boosted their price target on Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. HC Wainwright restated a “buy” rating and set a $102.00 price objective (up from $81.00) on shares of Mirum Pharmaceuticals in a research report on Tuesday. Stifel Nicolaus upped their target price on Mirum Pharmaceuticals from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Citizens Jmp lifted their price target on shares of Mirum Pharmaceuticals from $95.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Friday, December 19th. Finally, Cowen reissued a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $102.00.

Mirum Pharmaceuticals Stock Performance

The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -105.41 and a beta of 0.48. The stock’s 50-day simple moving average is $74.10 and its 200 day simple moving average is $68.68. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced 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 company had revenue of $133.01 million for the quarter, compared to analyst estimates of $130.11 million. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. Mirum Pharmaceuticals’s quarterly revenue was up 47.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) earnings per share. Analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $1,478,000. NorthCrest Asset Manangement LLC acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $406,000. Tudor Investment Corp ET AL acquired a new stake in Mirum Pharmaceuticals during the 3rd quarter worth approximately $2,027,000. CIBC Bancorp USA Inc. bought a new position in shares of Mirum Pharmaceuticals during the third quarter worth about $315,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Mirum Pharmaceuticals during the third quarter worth $273,000.

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.