Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC increased its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 8.1% in the 2nd quarter, Holdings Channel reports. The firm owned 677,939 shares of the company’s stock after buying an additional 50,667 shares during the period. William Blair Investment Management LLC’s holdings in Mirum Pharmaceuticals were worth $23,179,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System lifted its holdings in shares of Mirum Pharmaceuticals by 10.6% in the 2nd quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock valued at $315,000 after purchasing an additional 883 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after purchasing an additional 1,127 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Mirum Pharmaceuticals by 7.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,641 shares of the company’s stock valued at $448,000 after purchasing an additional 1,246 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Mirum Pharmaceuticals by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock valued at $439,000 after purchasing an additional 1,825 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Mirum Pharmaceuticals by 17.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the company’s stock valued at $480,000 after purchasing an additional 2,050 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on MIRM. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. JMP Securities upped their price objective on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a research note on Tuesday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday, June 17th. JPMorgan Chase & Co. upped their price objective on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Finally, Citigroup upped their price objective on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $56.27.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $41.12 on Monday. The company has a current ratio of 3.28, a quick ratio of 3.09 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $40.59 and its two-hundred day moving average is $31.69. Mirum Pharmaceuticals, Inc. has a 12-month low of $23.14 and a 12-month high of $45.23. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -11.08 and a beta of 1.14.

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

Insider Buying and Selling

In related news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $34.00, for a total value of $1,039,006.00. Following the sale, the insider now owns 27,406 shares in the company, valued at approximately $931,804. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.