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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JMP Securities upped their target price on Mirum Pharmaceuticals from $69.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Raymond James cut their price target on Mirum Pharmaceuticals from $78.00 to $64.00 and set a “strong-buy” rating on the stock in a report on Tuesday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $58.00 price target on shares of Mirum Pharmaceuticals in a report on Tuesday, April 2nd. SVB Leerink cut their price target on Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, February 29th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $52.11.

Mirum Pharmaceuticals Stock Up 0.3 %

The company has a debt-to-equity ratio of 1.23, a current ratio of 4.45 and a quick ratio of 4.19. The company has a market cap of $1.13 billion, a P/E ratio of -6.05 and a beta of 1.14. The stock has a fifty day moving average price of $27.10 and a two-hundred day moving average price of $28.59.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly 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). The business had revenue of $69.55 million for the quarter, compared to analysts’ expectations of $66.73 million. Mirum Pharmaceuticals had a negative net margin of 86.33% and a negative return on equity of 66.24%. On average, research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.12 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Eric Bjerkholt purchased 2,000 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, March 27th. The stock was bought at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the transaction, the chief financial officer now owns 14,000 shares in the company, valued at $347,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Eric Bjerkholt purchased 2,000 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, March 27th. The stock was bought at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the transaction, the chief financial officer now owns 14,000 shares in the company, valued at $347,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter Radovich sold 4,303 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the completion of the transaction, the chief operating officer now owns 29,013 shares of the company’s stock, valued at $748,535.40. The disclosure for this sale can be found here. Company insiders own 24.06% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in MIRM. Los Angeles Capital Management LLC lifted its stake in Mirum Pharmaceuticals by 10.8% during the first quarter. Los Angeles Capital Management LLC now owns 41,836 shares of the company’s stock worth $1,051,000 after purchasing an additional 4,069 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Mirum Pharmaceuticals by 111.9% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,949 shares of the company’s stock worth $6,257,000 after buying an additional 111,949 shares during the period. Vanguard Group Inc. increased its holdings in shares of Mirum Pharmaceuticals by 46.2% in the fourth quarter. Vanguard Group Inc. now owns 2,476,244 shares of the company’s stock worth $73,099,000 after buying an additional 782,901 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Mirum Pharmaceuticals by 89.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 456,318 shares of the company’s stock worth $13,471,000 after buying an additional 215,542 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Mirum Pharmaceuticals by 3,544.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,164,682 shares of the company’s stock worth $34,383,000 after buying an additional 1,132,723 shares during the period.

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.