Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Up Following Insider Buying Activity

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) shares gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $25.12, but opened at $25.66. Mirum Pharmaceuticals shares last traded at $25.42, with a volume of 25,121 shares changing hands.

Specifically, CFO Eric Bjerkholt purchased 2,000 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average price of $24.80 per share, with a total value of $49,600.00. Following the purchase, the chief financial officer now directly owns 14,000 shares of the company's stock, valued at $347,200. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Mirum Pharmaceuticals news, COO Peter Radovich sold 4,303 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $25.80, for a total transaction of $111,017.40. Following the completion of the transaction, the chief operating officer now directly owns 29,013 shares in the company, valued at approximately $748,535.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric Bjerkholt purchased 2,000 shares of Mirum Pharmaceuticals stock in a transaction on Wednesday, March 27th. The stock was acquired at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the acquisition, the chief financial officer now directly owns 14,000 shares of the company's stock, valued at $347,200. The disclosure for this purchase can be found here. Over the last three months, insiders sold 13,202 shares of company stock valued at $359,119. Corporate insiders own 24.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JMP Securities raised their price target on Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, March 14th. SVB Leerink reduced their target price on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday, March 18th. HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $45.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $35.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, February 29th. Finally, Raymond James lowered their target price on shares of Mirum Pharmaceuticals from $78.00 to $64.00 and set a "strong-buy" rating for the company in a research note on Tuesday, December 19th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $52.11.

Mirum Pharmaceuticals Stock Performance

The stock's fifty day simple moving average is $27.46 and its two-hundred day simple moving average is $29.20. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -6.34 and a beta of 1.16. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.19 and a current ratio of 4.45.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.32). The firm 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%. Equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.12 EPS for the current year.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of MIRM. China Universal Asset Management Co. Ltd. grew its stake in Mirum Pharmaceuticals by 98.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 986 shares of the company's stock worth $31,000 after buying an additional 488 shares during the period. AJOVista LLC purchased a new stake in Mirum Pharmaceuticals during the 4th quarter worth $40,000. Wetzel Investment Advisors Inc. acquired a new stake in Mirum Pharmaceuticals in the 4th quarter valued at $41,000. Royal Bank of Canada raised its position in Mirum Pharmaceuticals by 40.1% in the second quarter. Royal Bank of Canada now owns 1,851 shares of the company's stock valued at $48,000 after purchasing an additional 530 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Mirum Pharmaceuticals by 186.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,846 shares of the company's stock worth $48,000 after purchasing an additional 1,202 shares in the last quarter.

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.