Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Up – Time to Buy?

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MIRM shares. HC Wainwright upped their price objective on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 28th. Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $58.20.

Mirum Pharmaceuticals Trading Down 0.6 %

The company has a market cap of $2.16 billion, a price-to-earnings ratio of -21.78 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 business’s 50-day simple moving average is $47.47 and its 200-day simple moving average is $43.57.

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

Insider Transactions at Mirum Pharmaceuticals

In related news, Director Patrick J. Heron acquired 1,335 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $45.57 per share, for a total transaction of $60,835.95. Following the purchase, the director now directly owns 163,643 shares in the company, valued at $7,457,211.51. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jolanda Howe sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $32,115.00. Following the completion of the sale, the senior vice president now owns 2,926 shares in the company, valued at $125,291.32. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,915 shares of company stock worth $1,897,920 in the last three months. 22.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Mirum Pharmaceuticals by 46.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,375 shares of the company’s stock worth $2,628,000 after acquiring an additional 21,526 shares in the last quarter. Intech Investment Management LLC acquired a new position in Mirum Pharmaceuticals in the 3rd quarter worth approximately $497,000. HealthInvest Partners AB lifted its holdings in shares of Mirum Pharmaceuticals by 83.9% in the third quarter. HealthInvest Partners AB now owns 138,321 shares of the company’s stock valued at $5,395,000 after purchasing an additional 63,121 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Mirum Pharmaceuticals by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock worth $12,798,000 after buying an additional 17,149 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Mirum Pharmaceuticals during the third quarter valued at $19,473,000.

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.