Millennium Management LLC Lowers Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Millennium Management LLC cut its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 50.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,443 shares of the company’s stock after selling 274,223 shares during the period. Millennium Management LLC owned about 0.56% of Mirum Pharmaceuticals worth $9,075,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MIRM. Price T Rowe Associates Inc. MD increased its stake in Mirum Pharmaceuticals by 37.2% during 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 during the period. California State Teachers Retirement System increased its position in shares of Mirum Pharmaceuticals by 672.9% during the fourth quarter. California State Teachers Retirement System now owns 211,111 shares of the company’s stock worth $6,232,000 after acquiring an additional 183,798 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Mirum Pharmaceuticals by 64.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after acquiring an additional 63,871 shares in the last quarter. Boone Capital Management LLC boosted its holdings in Mirum Pharmaceuticals by 25.7% in the fourth quarter. Boone Capital Management LLC now owns 490,139 shares of the company’s stock valued at $14,469,000 after purchasing an additional 100,348 shares during the period. Finally, Rice Hall James & Associates LLC grew its stake in Mirum Pharmaceuticals by 6.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company’s stock worth $7,854,000 after purchasing an additional 14,843 shares in the last quarter.

Wall Street Analyst Weigh In

MIRM has been the subject of several recent research reports. JMP Securities lifted their price objective on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a research note on Tuesday, June 18th. Evercore ISI lifted their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target on shares of Mirum Pharmaceuticals in a report on Monday, June 17th. Morgan Stanley raised their price objective on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Friday, July 26th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $56.27.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $38.91 on Wednesday. The stock’s 50-day moving average is $40.69 and its two-hundred day moving average is $33.01. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.14 and a 1 year high of $45.23. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -10.49 and a beta of 1.14.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The firm had revenue of $77.90 million for the quarter, compared to analyst estimates of $75.03 million. Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. The company’s quarterly revenue was up 107.7% on a year-over-year basis. During the same period last year, the firm earned ($0.92) EPS. Analysts predict that Mirum Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

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.