Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $50.00 at Robert W. Baird

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target increased by Robert W. Baird from $44.00 to $50.00 in a report issued on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Evercore ISI raised their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Friday, October 11th. Cantor Fitzgerald raised their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Leerink Partners raised their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $57.73.

Mirum Pharmaceuticals Stock Down 3.8 %

MIRM stock traded down $1.76 during trading on Wednesday, hitting $44.50. 605,104 shares of the stock traded hands, compared to its average volume of 559,796. Mirum Pharmaceuticals has a 1 year low of $23.14 and a 1 year high of $48.89. The firm’s 50 day moving average is $40.12 and its two-hundred day moving average is $36.00. The stock has a market cap of $2.14 billion, a price-to-earnings 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.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period in the prior year, the firm posted ($0.57) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 89.4% on a year-over-year basis. On average, sell-side analysts anticipate that Mirum Pharmaceuticals will post -1.81 EPS for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the sale, the senior vice president now owns 2,426 shares in the company, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of MIRM. Price T Rowe Associates Inc. MD boosted its stake in Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after buying an additional 432,824 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in Mirum Pharmaceuticals by 64.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock worth $4,090,000 after buying an additional 63,871 shares during the period. Rice Hall James & Associates LLC boosted its stake in Mirum Pharmaceuticals by 6.9% during the second quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company’s stock worth $7,854,000 after buying an additional 14,843 shares during the period. Candriam S.C.A. purchased a new position in Mirum Pharmaceuticals during the second quarter worth $17,384,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Mirum Pharmaceuticals by 64.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company’s stock worth $3,582,000 after buying an additional 41,236 shares during the period.

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.