Key Points
- Mirum Pharmaceuticals SVP Jolanda Howe sold 2,721 shares on July 1 at an average price of $120.00, totaling $326,520. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced her holdings by 46.63%.
- MIRM shares have surged, with the stock opening at $125.59 and trading near its 52-week high of $125.75. The company now has a market cap of $7.66 billion.
- Analysts remain mostly bullish on Mirum Pharmaceuticals, with a consensus rating of “Moderate Buy” and an average price target of $143.00. Several firms recently raised their targets, including Morgan Stanley to $150 and TD Cowen to $145.
Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) SVP Jolanda Howe sold 2,721 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total value of $326,520.00. Following the sale, the senior vice president owned 3,114 shares of the company's stock, valued at approximately $373,680. This trade represents a 46.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jolanda Howe also recently made the following trade(s):
- On Wednesday, June 17th, Jolanda Howe sold 2,594 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $101.95, for a total value of $264,458.30.
Mirum Pharmaceuticals Stock Up 4.3%
MIRM stock opened at $125.59 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The firm has a 50 day simple moving average of $102.58 and a 200-day simple moving average of $95.56. The company has a market capitalization of $7.66 billion, a P/E ratio of -9.23 and a beta of 0.48. Mirum Pharmaceuticals, Inc. has a twelve month low of $49.01 and a twelve month high of $125.75.
Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The company had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The company's revenue was up 43.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.30) earnings per share. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have commented on MIRM shares. Citigroup reaffirmed an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. JPMorgan Chase & Co. lifted their price objective on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday. HC Wainwright reiterated a "buy" rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. TD Cowen raised their price target on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Morgan Stanley lifted their price target on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.00.
Read Our Latest Stock Analysis on MIRM
Institutional Trading of Mirum Pharmaceuticals
Hedge funds have recently made changes to their positions in the stock. Faithward Advisors LLC grew its position in Mirum Pharmaceuticals by 0.5% in the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company's stock worth $2,537,000 after buying an additional 126 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Mirum Pharmaceuticals by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock valued at $253,000 after acquiring an additional 200 shares during the last quarter. Comerica Bank boosted its stake in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after acquiring an additional 278 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Mirum Pharmaceuticals by 46.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,106 shares of the company's stock worth $56,000 after acquiring an additional 351 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth $30,000.
About Mirum Pharmaceuticals
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
