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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) shares 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MIRM. SVB Leerink cut their price target on Mirum Pharmaceuticals from $44.00 to $43.00 and set an "outperform" rating on the stock in a research note on Monday, March 18th. JMP Securities increased their price target on Mirum Pharmaceuticals from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, March 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $35.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, February 29th. Stifel Nicolaus began coverage on Mirum Pharmaceuticals in a research note on Wednesday. They issued a "buy" rating and a $48.00 price target on the stock. Finally, Raymond James cut their price target on Mirum Pharmaceuticals from $78.00 to $64.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, December 19th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Mirum Pharmaceuticals has an average rating of "Buy" and an average target price of $51.70.

Mirum Pharmaceuticals Price Performance

The company has a 50 day moving average of $27.04 and a 200 day moving average of $28.56. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -6.01 and a beta of 1.14. The company has a current ratio of 4.45, a quick ratio of 4.19 and a debt-to-equity ratio of 1.23.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly 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 firm had revenue of $69.55 million during the quarter, compared to analyst estimates of $66.73 million. Equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.12 EPS for the current fiscal year.

Insider Activity

In related news, CFO Eric Bjerkholt acquired 2,000 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $25.80 per share, for a total transaction of $51,600.00. Following the acquisition, the chief financial officer now directly owns 12,000 shares of the company's stock, valued at $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Eric Bjerkholt acquired 2,000 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $25.80 per share, for a total transaction of $51,600.00. Following the acquisition, the chief financial officer now directly owns 12,000 shares of the company's stock, valued at $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $111,017.40. Following the completion of 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 corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of MIRM. China Universal Asset Management Co. Ltd. grew its holdings 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 purchasing an additional 488 shares during the period. AJOVista LLC bought a new position in Mirum Pharmaceuticals during the fourth quarter worth about $40,000. Wetzel Investment Advisors Inc. bought a new position in Mirum Pharmaceuticals during the fourth quarter worth about $41,000. Tower Research Capital LLC TRC grew its holdings in 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 during the period. Finally, Royal Bank of Canada grew its holdings in Mirum Pharmaceuticals by 40.1% during the second quarter. Royal Bank of Canada now owns 1,851 shares of the company's stock worth $48,000 after purchasing an additional 530 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.