Robert W. Baird Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Mirum Pharmaceuticals (NASDAQ:MIRM) had its target price lifted by equities researchers at Robert W. Baird from $50.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 8.87% from the stock’s previous close.

MIRM has been the subject of several other research reports. Citigroup boosted their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $57.60.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $50.52 on Thursday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -25.01 and a beta of 0.96. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $54.23. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The business’s 50-day moving average is $46.72 and its 200-day moving average is $43.32.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). The business had revenue of $99.41 million during the quarter, compared to analyst estimates of $96.64 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. Equities research analysts expect that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 1,064 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $51,306.08. Following the completion of the transaction, the senior vice president now directly owns 4,232 shares in the company, valued at $204,067.04. The trade was a 20.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 7,489 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the transaction, the chief executive officer now owns 119,359 shares of the company’s stock, valued at $5,110,952.38. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,915 shares of company stock worth $1,897,920 over the last three months. 22.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. raised its stake in shares of Mirum Pharmaceuticals by 1.2% in the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock valued at $256,245,000 after purchasing an additional 75,000 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Mirum Pharmaceuticals by 2.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company’s stock valued at $189,481,000 after purchasing an additional 101,358 shares in the last quarter. State Street Corp raised its stake in shares of Mirum Pharmaceuticals by 19.9% in the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after purchasing an additional 297,511 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mirum Pharmaceuticals by 10.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company’s stock valued at $58,831,000 after purchasing an additional 138,623 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Mirum Pharmaceuticals by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock worth $39,016,000 after acquiring an additional 7,147 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.