Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price Up 6% – Here’s What Happened

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shot up 6% during trading on Monday . The company traded as high as $43.85 and last traded at $43.79. 323,240 shares were traded during trading, a decline of 17% from the average session volume of 390,612 shares. The stock had previously closed at $41.32.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MIRM. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Leerink Partners increased their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup boosted their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $57.10.

Mirum Pharmaceuticals Trading Up 6.5 %

The business has a fifty day moving average price of $42.95 and a 200 day moving average price of $40.77. The firm has a market cap of $2.11 billion, a PE ratio of -21.78 and a beta of 0.98. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. During the same period in the prior year, the firm posted ($0.57) earnings per share. The firm’s revenue was up 89.4% on a year-over-year basis. Analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.46 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 7,489 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 $320,678.98. Following the transaction, the chief executive officer now directly owns 119,359 shares in the company, valued at approximately $5,110,952.38. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jolanda Howe sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,737 shares of company stock valued at $556,098 over the last ninety days. Insiders own 22.87% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. Lord Abbett & CO. LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter worth $28,913,000. Loomis Sayles & Co. L P acquired a new position in Mirum Pharmaceuticals during the 3rd quarter worth approximately $19,473,000. Clearbridge Investments LLC raised its stake in shares of Mirum Pharmaceuticals by 165.5% during the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after buying an additional 436,349 shares in the last quarter. State Street Corp lifted its holdings in shares of Mirum Pharmaceuticals by 19.9% in the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after buying an additional 297,511 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $10,136,000.

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.