Phocas Financial Corp. Trims Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Phocas Financial Corp. reduced its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 37.3% in the third quarter, Holdings Channel.com reports. The fund owned 37,889 shares of the company’s stock after selling 22,510 shares during the quarter. Phocas Financial Corp.’s holdings in Mirum Pharmaceuticals were worth $1,478,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quest Partners LLC increased its holdings in Mirum Pharmaceuticals by 7,513.3% during the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after acquiring an additional 1,127 shares during the period. Amalgamated Bank increased its holdings in shares of Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after buying an additional 318 shares in the last quarter. ProShare Advisors LLC bought a new stake in Mirum Pharmaceuticals during the second quarter valued at $213,000. Finally, Creative Planning purchased a new position in Mirum Pharmaceuticals during the third quarter worth about $249,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MIRM shares. Citigroup lifted their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Leerink Partners increased their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Finally, Evercore ISI lifted their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note 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. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $57.73.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the company’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 of the company’s stock, valued at $114,264.60. This represents a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Trading Up 1.6 %

Shares of MIRM stock opened at $42.09 on Wednesday. The business has a 50-day moving average of $40.14 and a 200 day moving average of $36.37. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. Mirum Pharmaceuticals, Inc. has a 1-year low of $23.14 and a 1-year high of $48.89. The stock has a market capitalization of $2.02 billion, a PE ratio of -20.84 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. During the same quarter in the prior year, the firm posted ($0.57) earnings per share. The business’s quarterly revenue was up 89.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.51 earnings per share for the current year.

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.