Secure Asset Management LLC Raises Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Secure Asset Management LLC grew its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,904 shares of the company’s stock after buying an additional 3,630 shares during the quarter. Secure Asset Management LLC’s holdings in Mirum Pharmaceuticals were worth $1,569,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. AJOVista LLC bought a new stake in Mirum Pharmaceuticals during the 4th quarter valued at $40,000. Wetzel Investment Advisors Inc. raised its stake in shares of Mirum Pharmaceuticals by 71.4% during the first quarter. Wetzel Investment Advisors Inc. now owns 2,400 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares during the last quarter. StepStone Group LP purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth about $135,000. Quest Partners LLC bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $194,000. Finally, NEOS Investment Management LLC purchased a new position in Mirum Pharmaceuticals during the 4th quarter valued at about $220,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Baird R W raised shares of Mirum Pharmaceuticals to a “strong-buy” rating in a research report on Monday, June 17th. HC Wainwright reaffirmed a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Friday, July 26th. Evercore ISI boosted their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Citigroup increased their price target on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $56.27.

Mirum Pharmaceuticals Stock Up 0.3 %

MIRM stock traded up $0.14 on Friday, reaching $41.12. 391,240 shares of the company traded hands, compared to its average volume of 625,890. The firm has a fifty day simple moving average of $37.80 and a 200-day simple moving average of $30.22. The company has a market cap of $1.94 billion, a P/E ratio of -11.08 and a beta of 1.15. Mirum Pharmaceuticals, Inc. has a one year low of $23.14 and a one year high of $44.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.68 and a quick ratio of 3.47.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The company had revenue of $77.90 million for the quarter, compared to the consensus estimate of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. Mirum Pharmaceuticals’s revenue was up 107.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.92) earnings per share. Research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Saira Ramasastry sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total value of $128,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the transaction, the insider now directly owns 27,406 shares of the company’s stock, valued at $931,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,934 shares of company stock valued at $1,180,156. Insiders own 22.87% of the company’s stock.

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.