Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,210 shares of the company’s stock after purchasing an additional 883 shares during the period. Arizona State Retirement System’s holdings in Mirum Pharmaceuticals were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MIRM. Janus Henderson Group PLC grew its holdings in Mirum Pharmaceuticals by 34.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after buying an additional 704,659 shares during the last quarter. Cadian Capital Management LP lifted its stake in shares of Mirum Pharmaceuticals by 34.8% during the 4th quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock worth $57,119,000 after purchasing an additional 500,000 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after purchasing an additional 432,824 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Mirum Pharmaceuticals by 1,533.9% during the 4th quarter. Clearbridge Investments LLC now owns 264,097 shares of the company’s stock worth $7,796,000 after purchasing an additional 247,933 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Mirum Pharmaceuticals by 672.9% during the 4th quarter. California State Teachers Retirement System now owns 211,111 shares of the company’s stock worth $6,232,000 after purchasing an additional 183,798 shares during the period.

Mirum Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ:MIRM opened at $40.29 on Wednesday. Mirum Pharmaceuticals, Inc. has a 12 month low of $23.14 and a 12 month high of $45.23. The company has a quick ratio of 3.09, a current ratio of 3.28 and a debt-to-equity ratio of 1.34. The company’s fifty day simple moving average is $40.76 and its 200 day simple moving average is $31.85. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -10.86 and a beta of 1.14.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The business had revenue of $77.90 million during the quarter, compared to analyst estimates of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 40.34% and a negative return on equity of 43.47%. The firm’s quarterly revenue was up 107.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. As a group, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley increased their target price on Mirum Pharmaceuticals from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Citigroup raised their target price on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus restated a “buy” rating and set a $48.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday, June 17th. Cantor Fitzgerald raised their target price on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Friday, July 26th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $56.27.

Insider Buying and Selling

In other news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $34.00, for a total value of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares of the company’s stock, valued at approximately $931,804. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 22.87% of the stock is owned by corporate insiders.

About Mirum Pharmaceuticals

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.