Raymond James Financial Inc. Makes New Investment in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Raymond James Financial Inc. bought a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 256,612 shares of the company’s stock, valued at approximately $10,611,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in Mirum Pharmaceuticals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock valued at $30,000 after purchasing an additional 357 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at about $69,000. Avanza Fonder AB bought a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at about $189,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $215,000. Finally, Aigen Investment Management LP bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $320,000.

Insider Activity

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the completion of the sale, the senior vice president now directly owns 4,841 shares in the company, valued at approximately $214,698.35. The trade was a 92.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Peetz sold 7,489 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $320,678.98. Following the completion of the sale, the chief executive officer now owns 119,359 shares in the company, valued at $5,110,952.38. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,679 shares of company stock valued at $6,007,081. Company insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Trading Up 1.6 %

NASDAQ MIRM opened at $47.87 on Friday. Mirum Pharmaceuticals, Inc. has a 12-month low of $23.14 and a 12-month high of $54.23. The company has a fifty day simple moving average of $47.77 and a two-hundred day simple moving average of $43.65. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The stock has a market cap of $2.35 billion, a P/E ratio of -23.70 and a beta of 1.04.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $99.41 million during the quarter, compared to analysts’ expectations of $96.64 million. On average, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on MIRM. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. HC Wainwright increased their price objective on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 28th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $58.20.

Mirum Pharmaceuticals 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.