Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $55.00 at Robert W. Baird

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target upped by analysts at Robert W. Baird from $50.00 to $55.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 15.62% from the company’s current price.

A number of other equities analysts have also weighed in on MIRM. HC Wainwright reiterated a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Citigroup increased their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $58.20.

Mirum Pharmaceuticals Trading Up 1.3 %

Shares of MIRM stock opened at $47.57 on Thursday. The stock has a 50-day simple moving average of $46.96 and a 200 day simple moving average of $43.37. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $54.23. The stock has a market capitalization of $2.28 billion, a P/E ratio of -23.55 and a beta of 0.96. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $99.41 million for the quarter, compared to the consensus estimate of $96.64 million. On average, sell-side analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 7,489 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the sale, the chief executive officer now directly owns 119,359 shares of the company’s stock, valued at approximately $5,110,952.38. This represents a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jolanda Howe sold 750 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $32,115.00. Following the sale, the senior vice president now directly owns 2,926 shares of the company’s stock, valued at $125,291.32. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,915 shares of company stock valued at $1,897,920. Corporate insiders own 22.87% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Mirum Pharmaceuticals by 19.9% during the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after purchasing an additional 297,511 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Mirum Pharmaceuticals by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock worth $12,798,000 after purchasing an additional 17,149 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Mirum Pharmaceuticals by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock worth $36,519,000 after purchasing an additional 29,017 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Mirum Pharmaceuticals by 791.7% during the 3rd quarter. GSA Capital Partners LLP now owns 57,985 shares of the company’s stock worth $2,261,000 after purchasing an additional 51,482 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Mirum Pharmaceuticals by 25.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company’s stock worth $6,021,000 after purchasing an additional 29,545 shares in the last quarter.

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.