Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Down - What's Next?

Key Points

• Mirum shares gapped down at the open from $96.53 to $89.50 but were later trading around $106.17 on volume of ~221,000 shares, showing volatile intraday movement.
• Analysts remain largely bullish with a consensus rating of “Moderate Buy” and a consensus price target of $123.83, following multiple upward price-target revisions.
• The company missed EPS (reported -$0.11 vs. $0.02 expected) despite a 49.8% year-over-year revenue increase and guidance implying negative full-year EPS, while insiders sold ~76,806 shares (~$7.06M) over the past three months.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $96.53, but opened at $89.50. Mirum Pharmaceuticals shares last traded at $106.1650, with a volume of 221,222 shares changing hands.

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Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Mirum Pharmaceuticals from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $95.00 to $112.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Morgan Stanley raised their price objective on shares of Mirum Pharmaceuticals from $95.00 to $123.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Citizens Jmp restated a "market outperform" rating and set a $132.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, April 21st. Finally, TD Cowen raised their price objective on shares of Mirum Pharmaceuticals from $117.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Mirum Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $123.83.

Mirum Pharmaceuticals Price Performance

The stock has a market cap of $6.58 billion, a PE ratio of -226.34 and a beta of 0.52. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.67 and a quick ratio of 2.55. The firm's 50 day moving average price is $93.78 and its two-hundred day moving average price is $85.40.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). The business had revenue of $148.93 million during the quarter, compared to analysts' expectations of $141.78 million. Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.Mirum Pharmaceuticals's revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. On average, research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.77 earnings per share for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 4,732 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the transaction, the senior vice president directly owned 8,429 shares in the company, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Bjerkholt sold 7,287 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the completion of the transaction, the chief financial officer owned 49,788 shares of the company's stock, valued at $4,579,500.24. This trade represents a 12.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 76,806 shares of company stock valued at $7,064,616. 22.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of large investors have recently modified their holdings of MIRM. Cullen Frost Bankers Inc. bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $30,000. MCF Advisors LLC boosted its position in shares of Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company's stock valued at $31,000 after acquiring an additional 185 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $32,000. CIBC Private Wealth Group LLC bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $32,000. Finally, Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $33,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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