Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Up – Here’s Why

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $44.28, but opened at $45.76. Mirum Pharmaceuticals shares last traded at $44.02, with a volume of 21,381 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on MIRM shares. Robert W. Baird raised their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $58.20.

Mirum Pharmaceuticals Stock Down 0.6 %

The company’s 50 day simple moving average is $47.47 and its 200-day simple moving average is $43.57. The firm has a market cap of $2.16 billion, a P/E ratio of -21.78 and a beta of 1.04. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The company had revenue of $99.41 million for the quarter, compared to the consensus estimate of $96.64 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. Research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 7,489 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the sale, the chief executive officer now owns 119,359 shares in the company, valued at approximately $5,110,952.38. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Radovich sold 1,998 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $85,554.36. Following the completion of the sale, the chief operating officer now directly owns 27,015 shares of the company’s stock, valued at approximately $1,156,782.30. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,915 shares of company stock worth $1,897,920. Insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Mirum Pharmaceuticals by 46.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,375 shares of the company’s stock worth $2,628,000 after buying an additional 21,526 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $497,000. HealthInvest Partners AB lifted its position in Mirum Pharmaceuticals by 83.9% during the 3rd quarter. HealthInvest Partners AB now owns 138,321 shares of the company’s stock worth $5,395,000 after acquiring an additional 63,121 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Mirum Pharmaceuticals by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock valued at $12,798,000 after purchasing an additional 17,149 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Mirum Pharmaceuticals in the third quarter worth $19,473,000.

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.