Wellington Management Group LLP Grows Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Wellington Management Group LLP raised its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 62.2% during the 3rd quarter, Holdings Channel reports. The fund owned 122,334 shares of the company’s stock after purchasing an additional 46,918 shares during the period. Wellington Management Group LLP’s holdings in Mirum Pharmaceuticals were worth $4,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in Mirum Pharmaceuticals by 19.9% in the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after purchasing an additional 297,511 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Mirum Pharmaceuticals by 165.5% in the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after buying an additional 436,349 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 8.1% in the 2nd quarter. William Blair Investment Management LLC now owns 677,939 shares of the company’s stock worth $23,179,000 after buying an additional 50,667 shares during the last quarter. Candriam S.C.A. purchased a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $17,384,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at about $19,473,000.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ:MIRM opened at $42.39 on Tuesday. The firm’s 50 day simple moving average is $41.97 and its 200-day simple moving average is $38.97. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. Mirum Pharmaceuticals, Inc. has a one year low of $23.14 and a one year high of $48.89. The firm has a market cap of $2.03 billion, a PE ratio of -20.99 and a beta of 1.20.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period last year, the business posted ($0.57) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 89.4% on a year-over-year basis. As a group, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MIRM. Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Leerink Partners increased their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. HC Wainwright restated a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average target price of $57.73.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares in the company, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.87% of the stock is currently owned by corporate insiders.

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.