Eric Bjerkhot, serving as the Chief Financial Officer for Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), has executed a divestment of 5,000 shares of the company's common stock on July 6, 2026. According to a recent regulatory filing, the aggregate value of these transactions reached $611,273. The sales were conducted in accordance with a Rule 10b5-1 trading plan, a mechanism designed to allow executives to trade company stock during restricted periods while avoiding allegations of insider trading. Mr. Bjerkhot initially adopted this pre-arranged plan on March 9, 2026.
The timing of this sale is notable given the recent performance of Mirum's equity. Over the preceding twelve months, MIRM shares have appreciated by 155%. At the time of the filing, the stock was trading at $128.57, a level that places it merely 1% below its 52-week high of $129. Market analysis from InvestingPro suggests that, based on fair value calculations, the stock may currently be trading at elevated levels relative to intrinsic value metrics.
The 5,000 shares were not sold in a single block but were distributed across multiple transactions executed at varying price points. The transaction prices ranged from $121.67 to $124.94 per share. Specifically, a block of 3,124 shares was sold at a weighted average price of $121.67, with individual execution prices falling between $121.13 and $122.13. A subsequent tranche of 1,048 shares was sold at a weighted average of $122.43, with individual prices between $122.235 and $123.10. Another 528 shares were sold at a weighted average price of $123.84, with individual prices ranging from $123.285 to $124.27. The final portion of the sale involved 300 shares executed at a price of $124.94 per share.
Following the completion of these transactions, Mr. Bjerkhot's direct holding in Mirum Pharmaceuticals common stock stands at 42,181 shares. The sale activity occurs within a broader context of corporate finance and market sentiment shifts for the pharmaceutical company. Mirum recently announced the pricing of $600 million in convertible senior notes maturing in 2032. These notes carry a 0.00% interest rate and are scheduled for settlement on May 15. The issuer retains the option to allow initial purchasers to acquire an additional $90 million in notes, potentially increasing the total issuance.
Market analysts have also recently adjusted their outlook on Mirum. Wolfe Research initiated coverage of the company with an outperform rating and set a price target of $145. The firm projects that Livmarli, a key product in Mirum's portfolio, is expected to reach peak worldwide sales of approximately $940 million. Concurrently, Citizens has raised its price target on Mirum shares to $146, while maintaining a Market Outperform rating. This adjustment follows Mirum's acquisition of zilurgisertib from Incyte for an upfront payment of $16 million, which Citizens identifies as a $200 million opportunity.
Further bolstering the positive sentiment, H.C. Wainwright has reiterated a Buy rating on Mirum Pharmaceuticals, establishing a price target of $185. The firm highlighted interim data from an ongoing pivotal Phase 2 study of zilurgisertib presented at the ENDO conference. Citizens continues to list Mirum among its top picks, citing several late-stage clinical readouts expected over the next two years as key catalysts for future growth.
Market data indicates that MIRM closed at $128.57, reflecting a gain of $0.26 or 0.20% during regular trading hours. In after-hours trading, the stock saw a decline, closing at $126.09, down $2.48 or 1.93%. The stock's recent performance has been tracked across multiple timeframes, including 1-day, 1-week, 1-month, 6-month, 1-year, and 5-year periods, showing significant volatility and upward momentum in the longer term.