Mirum Pharmaceuticals (NASDAQ:MIRM) PT Raised to $44.00 at Robert W. Baird

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective raised by stock analysts at Robert W. Baird from $39.00 to $44.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 9.95% from the stock’s previous close.

Several other brokerages have also issued reports on MIRM. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Friday, July 26th. Morgan Stanley lifted their price target on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price target on shares of Mirum Pharmaceuticals in a report on Monday, June 17th. JMP Securities boosted their target price on shares of Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Mirum Pharmaceuticals from $31.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $56.27.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM traded up $0.15 during midday trading on Thursday, hitting $40.02. The stock had a trading volume of 375,533 shares, compared to its average volume of 634,035. The company’s 50-day moving average price is $34.67 and its 200-day moving average price is $29.17. The company has a market capitalization of $1.89 billion, a P/E ratio of -10.79 and a beta of 1.15. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. Mirum Pharmaceuticals has a fifty-two week low of $23.14 and a fifty-two week high of $44.70.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The company had revenue of $77.90 million for the quarter, compared to the consensus estimate of $75.03 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The company’s revenue for the quarter was up 107.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.92) earnings per share. As a group, equities research analysts predict that Mirum Pharmaceuticals will post -1.66 EPS for the current fiscal year.

Insider Activity

In other news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $34.00, for a total value of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares of the company’s stock, valued at approximately $931,804. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total transaction of $128,400.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the transaction, the insider now owns 27,406 shares in the company, valued at approximately $931,804. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,934 shares of company stock valued at $1,180,156. 22.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MIRM. Raymond James & Associates raised its holdings in Mirum Pharmaceuticals by 27.8% during the fourth quarter. Raymond James & Associates now owns 135,682 shares of the company’s stock worth $4,005,000 after buying an additional 29,475 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Mirum Pharmaceuticals by 20.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 60,047 shares of the company’s stock worth $1,773,000 after buying an additional 10,156 shares during the last quarter. Arizona State Retirement System raised its holdings in Mirum Pharmaceuticals by 19.5% during the fourth quarter. Arizona State Retirement System now owns 8,413 shares of the company’s stock worth $248,000 after buying an additional 1,375 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Mirum Pharmaceuticals by 74.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,601 shares of the company’s stock worth $254,000 after buying an additional 3,667 shares during the last quarter. Finally, Genworth Financial Inc acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth $385,000.

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.