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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target increased by equities research analysts at Robert W. Baird from $112.00 to $129.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 20.38% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Leerink Partners lowered their price objective on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Morgan Stanley raised their price objective on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus raised their price objective on shares of Mirum Pharmaceuticals from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their price objective on shares of Mirum Pharmaceuticals from $130.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Finally, HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.42.

Mirum Pharmaceuticals Trading Up 4.1%

Shares of Mirum Pharmaceuticals stock opened at $107.16 on Thursday. The company’s fifty day simple moving average is $93.79 and its 200-day simple moving average is $86.06. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -7.87 and a beta of 0.52. The company has a current ratio of 2.67, a quick ratio of 2.55 and a debt-to-equity ratio of 0.98. Mirum Pharmaceuticals has a 1 year low of $42.89 and a 1 year high of $112.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($13.04). The company had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 10.84% and a negative net margin of 140.24%.The company’s revenue was up 43.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.30) EPS. As a group, sell-side analysts expect that Mirum Pharmaceuticals will post -1.84 EPS for the current year.

Insider Buying and Selling

In other news, CEO Christopher Peetz sold 40,985 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $3,769,800.30. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $17,872,541.82. The trade was a 17.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joanne Quan sold 7,287 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the completion of the sale, the insider owned 18,864 shares in the company, valued at $1,735,110.72. This represents a 27.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 76,806 shares of company stock worth $7,064,616 in the last three months. Company insiders own 14.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in Mirum Pharmaceuticals by 21.4% during the 4th quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock worth $479,050,000 after buying an additional 1,067,722 shares in the last quarter. Vanguard Group Inc. lifted its position in Mirum Pharmaceuticals by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after buying an additional 50,720 shares in the last quarter. State Street Corp lifted its position in Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after buying an additional 797,088 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Mirum Pharmaceuticals by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock worth $112,196,000 after buying an additional 137,087 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Mirum Pharmaceuticals by 56.6% during the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company’s stock worth $97,776,000 after buying an additional 447,141 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.