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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective upped by Robert W. Baird from $50.00 to $55.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on MIRM. HC Wainwright reissued a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Citigroup boosted their target price on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $58.20.

Mirum Pharmaceuticals Trading Up 1.3 %

NASDAQ:MIRM opened at $47.57 on Thursday. The company has a market capitalization of $2.33 billion, a PE 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 has a 52-week low of $23.14 and a 52-week high of $54.23. The stock has a fifty day simple moving average of $46.96 and a 200-day simple moving average of $43.39.

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 during the quarter, compared to analyst estimates of $96.64 million. On average, equities research analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jolanda Howe sold 750 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $32,115.00. Following the completion of the transaction, the senior vice president now owns 2,926 shares of the company’s stock, valued at $125,291.32. This represents a 20.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Peetz sold 9,102 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $48.22, for a total transaction of $438,898.44. Following the transaction, the chief executive officer now directly owns 115,920 shares of the company’s stock, valued at approximately $5,589,662.40. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,915 shares of company stock valued at $1,897,920 in the last 90 days. 22.87% of the stock is currently owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors have recently modified their holdings of MIRM. Jones Financial Companies Lllp grew its holdings in shares of Mirum Pharmaceuticals by 100.0% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock worth $30,000 after purchasing an additional 357 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Mirum Pharmaceuticals by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after purchasing an additional 318 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $69,000.

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.