Raymond James & Associates Has $5.37 Million Stock Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Raymond James & Associates decreased its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,628 shares of the company’s stock after selling 6,586 shares during the period. Raymond James & Associates owned about 0.29% of Mirum Pharmaceuticals worth $5,367,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MIRM. Quest Partners LLC raised 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 worth $39,000 after buying an additional 1,127 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Mirum Pharmaceuticals by 60.8% in the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after buying an additional 513 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $213,000. Creative Planning acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $249,000. Finally, Arizona State Retirement System raised 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 worth $315,000 after buying an additional 883 shares in the last quarter.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $40.40 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28. The stock’s 50-day simple moving average is $40.15 and its 200 day simple moving average is $34.73. The company has a market cap of $1.93 billion, a P/E ratio of -17.64 and a beta of 1.14. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.14 and a 52-week high of $45.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The business had revenue of $77.90 million for the quarter, compared to the consensus estimate of $75.03 million. During the same quarter in the previous year, the business posted ($0.92) EPS. The company’s revenue for the quarter was up 107.7% on a year-over-year basis. As a group, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MIRM shares. Robert W. Baird raised their price target on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Evercore ISI raised their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Friday, October 11th. Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald increased their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Ten equities research 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, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $56.82.

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.