Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Down – What’s Next?

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MIRM shares. HC Wainwright lifted their target price on shares of Mirum Pharmaceuticals from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 28th. Robert W. Baird lifted their target price 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. Finally, Leerink Partners dropped their target price on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $123.83.

Mirum Pharmaceuticals Trading Up 11.8%

The stock has a market capitalization of $6.58 billion, a P/E ratio of -226.34 and a beta of 0.52. The company has a current ratio of 2.67, a quick ratio of 2.55 and a debt-to-equity ratio of 0.98. The stock’s fifty day moving average price is $93.78 and its two-hundred day moving average price is $85.40.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). The business had revenue of $148.93 million during the quarter, compared to the consensus estimate of $141.78 million. Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The company’s revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Equities research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.77 EPS for the current year.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt sold 7,287 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $670,258.26. Following the transaction, the chief financial officer directly owned 49,788 shares of the company’s stock, valued at $4,579,500.24. The trade was a 12.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Peter Radovich sold 16,515 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $1,519,049.70. Following the completion of the transaction, the chief operating officer directly owned 40,272 shares in the company, valued at approximately $3,704,218.56. The trade was a 29.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 76,806 shares of company stock valued at $7,064,616 over the last quarter. Company insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MIRM. Janus Henderson Group PLC increased its stake in shares of Mirum Pharmaceuticals by 21.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock worth $479,050,000 after buying an additional 1,067,722 shares during the period. State Street Corp increased its position in Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock valued at $169,354,000 after purchasing an additional 797,088 shares during the period. Wellington Management Group LLP increased its position in Mirum Pharmaceuticals by 566.8% during the 3rd quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock valued at $57,965,000 after purchasing an additional 672,118 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Mirum Pharmaceuticals by 709.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock valued at $44,889,000 after purchasing an additional 536,674 shares during the period. Finally, Voloridge Investment Management LLC increased its position in Mirum Pharmaceuticals by 2,116.6% during the 3rd quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock valued at $28,560,000 after purchasing an additional 371,999 shares during the period.

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.