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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective boosted by Robert W. Baird from $44.00 to $50.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

MIRM has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Friday, October 11th. Evercore ISI upped their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Cantor Fitzgerald lifted their price target on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Leerink Partners boosted their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals Stock Down 3.8 %

Mirum Pharmaceuticals stock opened at $44.50 on Wednesday. The stock has a market cap of $2.14 billion, a PE ratio of -22.03 and a beta of 1.16. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.09. The stock’s fifty day moving average is $40.12 and its two-hundred day moving average is $36.07. Mirum Pharmaceuticals has a 1-year low of $23.14 and a 1-year high of $48.89.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. The business had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business’s quarterly revenue was up 89.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.57) EPS. On average, sell-side analysts expect that Mirum Pharmaceuticals will post -1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 2,500 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 22.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. lifted its holdings in shares of Mirum Pharmaceuticals by 1.2% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock valued at $256,245,000 after buying an additional 75,000 shares during the period. Janus Henderson Group PLC lifted its holdings in Mirum Pharmaceuticals by 34.2% in the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after acquiring an additional 704,659 shares during the period. State Street Corp boosted its position 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. Price T Rowe Associates Inc. MD grew its stake in shares of Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after purchasing an additional 432,824 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock valued at $36,519,000 after purchasing an additional 29,017 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.