Robert W. Baird Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price raised by Robert W. Baird from $44.00 to $50.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald upped their target price on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Leerink Partners upped their target price on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Friday, October 11th. Finally, Evercore ISI upped their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $57.73.

Mirum Pharmaceuticals Trading Down 3.8 %

Shares of MIRM stock opened at $44.50 on Wednesday. The stock has a market cap of $2.14 billion, a P/E ratio of -22.03 and a beta of 1.16. The company has a quick ratio of 3.09, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $48.89. The business has a fifty day simple moving average of $40.12 and a 200-day simple moving average of $36.07.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share 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 firm had revenue of $90.38 million during the quarter, compared to the consensus estimate of $81.99 million. During the same period last year, the firm posted ($0.57) EPS. The firm’s revenue for the quarter was up 89.4% on a year-over-year basis. On average, analysts forecast that Mirum Pharmaceuticals will post -1.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the transaction, the senior vice president now owns 2,426 shares of the company’s stock, valued at approximately $114,264.60. This represents a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MIRM. Mirae Asset Global Investments Co. Ltd. increased its position in Mirum Pharmaceuticals by 7.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,641 shares of the company’s stock worth $448,000 after purchasing an additional 1,246 shares during the last quarter. Russell Investments Group Ltd. increased its position in Mirum Pharmaceuticals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock worth $439,000 after purchasing an additional 1,825 shares during the last quarter. Affinity Asset Advisors LLC increased its position in Mirum Pharmaceuticals by 220.0% during the first quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company’s stock worth $4,019,000 after purchasing an additional 110,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Mirum Pharmaceuticals by 37.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after acquiring an additional 432,824 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Mirum Pharmaceuticals by 64.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock worth $4,090,000 after acquiring an additional 63,871 shares in the last quarter.

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.