Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Up to $24.01

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $24.01, but opened at $24.63. Mirum Pharmaceuticals shares last traded at $24.14, with a volume of 16,816 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MIRM. JMP Securities lifted their target price on Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, February 29th. HC Wainwright reiterated a “buy” rating and set a $58.00 target price on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 2nd. Stifel Nicolaus started coverage on Mirum Pharmaceuticals in a research note on Wednesday. They set a “buy” rating and a $48.00 target price on the stock. Finally, SVB Leerink lowered their price objective on Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $51.70.

Mirum Pharmaceuticals Stock Performance

The company has a market capitalization of $1.11 billion, a PE ratio of -5.94 and a beta of 1.14. The company has a 50 day moving average of $26.97 and a two-hundred day moving average of $28.52. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.45 and a quick ratio of 4.19.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, February 28th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. The company had revenue of $69.55 million during the quarter, compared to analysts’ expectations of $66.73 million. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.12 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 4,303 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $25.80, for a total value of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares of the company’s stock, valued at $748,535.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Peter Radovich sold 4,303 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $25.80, for a total value of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares of the company’s stock, valued at $748,535.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Bjerkholt acquired 2,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $25.80 per share, for a total transaction of $51,600.00. Following the purchase, the chief financial officer now directly owns 12,000 shares of the company’s stock, valued at $309,600. The disclosure for this purchase can be found here. 24.06% of the stock is currently owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its holdings in Mirum Pharmaceuticals by 31.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 63,534 shares of the company’s stock valued at $1,596,000 after buying an additional 15,022 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Mirum Pharmaceuticals by 10.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 41,836 shares of the company’s stock valued at $1,051,000 after buying an additional 4,069 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Mirum Pharmaceuticals by 111.9% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,949 shares of the company’s stock valued at $6,257,000 after buying an additional 111,949 shares in the last quarter. Vanguard Group Inc. grew its holdings in Mirum Pharmaceuticals by 46.2% during the 4th quarter. Vanguard Group Inc. now owns 2,476,244 shares of the company’s stock valued at $73,099,000 after buying an additional 782,901 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Mirum Pharmaceuticals by 89.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 456,318 shares of the company’s stock valued at $13,471,000 after buying an additional 215,542 shares in the last quarter.

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.