Federated Hermes Inc. Reduces Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Federated Hermes Inc. reduced its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 40.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the company’s stock after selling 3,600 shares during the period. Federated Hermes Inc.’s holdings in Mirum Pharmaceuticals were worth $185,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Arizona State Retirement System boosted 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 acquiring an additional 883 shares during the last quarter. Quest Partners LLC lifted its stake 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 period. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 period. Russell Investments Group Ltd. lifted its stake 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 period. Finally, Commonwealth Equity Services LLC lifted its stake 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 period.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Morgan Stanley boosted their target price on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Robert W. Baird boosted their target price on shares of Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday, June 17th. Finally, Citigroup boosted their target price on shares of 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $56.27.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $38.98 on Wednesday. The firm has a 50-day simple moving average of $40.79 and a 200-day simple moving average of $32.22. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -10.51 and a beta of 1.14. The company has a quick ratio of 3.09, a current ratio of 3.28 and a debt-to-equity ratio of 1.34. Mirum Pharmaceuticals, Inc. has a 52 week low of $23.14 and a 52 week high of $45.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its 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). The business had revenue of $77.90 million during the quarter, compared to analyst estimates of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 40.34% and a negative return on equity of 43.47%. Mirum Pharmaceuticals’s quarterly revenue was up 107.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.92) earnings per share. On average, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.75 earnings per share for the current fiscal year.

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.