Loomis Sayles & Co. L P Makes New Investment in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Loomis Sayles & Co. L P purchased a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 499,316 shares of the company’s stock, valued at approximately $19,473,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its stake in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Mirum Pharmaceuticals by 37.2% in 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 buying an additional 432,824 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Mirum Pharmaceuticals by 165.5% during the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after acquiring an additional 436,349 shares during the period. William Blair Investment Management LLC lifted its position in shares of Mirum Pharmaceuticals by 8.1% in the second quarter. William Blair Investment Management LLC now owns 677,939 shares of the company’s stock valued at $23,179,000 after acquiring an additional 50,667 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in shares of Mirum Pharmaceuticals in the second quarter worth about $17,384,000.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the transaction, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Trading Up 2.0 %

MIRM opened at $45.15 on Wednesday. Mirum Pharmaceuticals, Inc. has a 12 month low of $23.14 and a 12 month high of $48.89. 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 50-day moving average of $40.47 and a 200 day moving average of $37.03. The firm has a market cap of $2.17 billion, a P/E ratio of -22.35 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. The firm had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company’s revenue for the quarter was up 89.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.57) EPS. As a group, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Cantor Fitzgerald lifted 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. Citigroup lifted 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. HC Wainwright restated a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Leerink Partners lifted their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Evercore ISI increased their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Ten 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, Mirum Pharmaceuticals has an average rating of “Buy” and an average price target of $57.73.

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.