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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price gapped up prior to trading 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 Ratings Changes

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

Mirum Pharmaceuticals Stock Performance

The firm’s fifty day moving average price is $27.10 and its 200-day moving average price is $28.59. The company has a current ratio of 4.45, a quick ratio of 4.19 and a debt-to-equity ratio of 1.23. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -6.05 and a beta of 1.14.

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

Insider Activity at Mirum Pharmaceuticals

In related news, COO Peter Radovich sold 4,303 shares of the company’s 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 sale, the chief operating officer now owns 29,013 shares in the company, valued at approximately $748,535.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Eric Bjerkholt acquired 2,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was bought at an average price of $24.80 per share, for a total transaction of $49,600.00. Following the transaction, the chief financial officer now owns 14,000 shares in the company, valued at $347,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Radovich sold 4,303 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $25.80, for a total transaction of $111,017.40. Following the transaction, the chief operating officer now owns 29,013 shares of the company’s stock, valued at approximately $748,535.40. The disclosure for this sale can be found here. 24.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of large investors have recently bought and sold shares of MIRM. Raymond James Financial Services Advisors Inc. raised its position in Mirum Pharmaceuticals by 110.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 53,301 shares of the company’s stock worth $1,174,000 after buying an additional 27,979 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Mirum Pharmaceuticals by 3.6% during the 1st quarter. Panagora Asset Management Inc. now owns 69,486 shares of the company’s stock worth $1,530,000 after purchasing an additional 2,427 shares during the period. BlackRock Inc. grew its stake in shares of Mirum Pharmaceuticals by 1.4% during the 1st quarter. BlackRock Inc. now owns 782,830 shares of the company’s stock worth $17,238,000 after purchasing an additional 10,732 shares during the period. Federated Hermes Inc. acquired a new position in shares of Mirum Pharmaceuticals during the 1st quarter worth $440,000. Finally, Prudential Financial Inc. grew its stake in shares of Mirum Pharmaceuticals by 25.4% during the 1st quarter. Prudential Financial Inc. now owns 80,300 shares of the company’s stock worth $1,768,000 after purchasing an additional 16,270 shares during the period.

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.