Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Up – Still a Buy?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) 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 trading hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MIRM shares. HC Wainwright raised their price objective on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Ten equities research 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.com, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $58.20.

Mirum Pharmaceuticals Trading Down 1.9 %

The business has a fifty day simple moving average of $47.55 and a 200 day simple moving average of $43.60. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -21.94 and a beta of 1.04. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data 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). Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $99.41 million for the quarter, compared to analyst estimates of $96.64 million. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 57,606 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the sale, the senior vice president now owns 4,841 shares in the company, valued at $214,698.35. This trade represents a 92.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Peetz sold 7,489 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 119,359 shares in the company, valued at $5,110,952.38. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,679 shares of company stock worth $6,007,081 over the last quarter. 22.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in Mirum Pharmaceuticals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock valued at $30,000 after acquiring an additional 357 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at $35,000. GF Fund Management CO. LTD. acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at $42,000. R Squared Ltd acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at $69,000. Finally, AlphaQuest LLC boosted its holdings in Mirum Pharmaceuticals by 969.6% in the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company’s stock valued at $76,000 after acquiring an additional 1,658 shares during the last quarter.

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.