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

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 changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented 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 report 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 report on Thursday, February 27th. Ten 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, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $58.20.

Mirum Pharmaceuticals Stock Performance

The firm has a market capitalization of $2.17 billion, a PE ratio of -21.94 and a beta of 1.04. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The stock has a 50-day moving average price of $47.55 and a 200-day moving average price of $43.60.

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

Insider Buying and Selling

In related news, COO Peter Radovich sold 2,627 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $48.22, for a total value of $126,673.94. Following the completion of the transaction, the chief operating officer now directly owns 26,961 shares in the company, valued at approximately $1,300,059.42. This trade represents a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.35, for a total value of $2,554,826.10. Following the completion of the transaction, the senior vice president now owns 4,841 shares of the company’s stock, valued at $214,698.35. This trade represents a 92.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,679 shares of company stock worth $6,007,081. Corporate insiders own 22.87% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $42,000. R Squared Ltd acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $69,000. Finally, AlphaQuest LLC boosted its stake 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 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.