Robert W. Baird Raises Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $39.00

Mirum Pharmaceuticals (NASDAQ:MIRMFree Report) had its price objective upped by Robert W. Baird from $34.00 to $39.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an overweight rating and issued a $40.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. SVB Leerink dropped their target price on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an outperform rating for the company in a research report on Monday, March 18th. HC Wainwright reaffirmed a buy rating and issued a $58.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, June 3rd. Citigroup lifted their price target on shares of Mirum Pharmaceuticals from $37.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $48.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of Buy and an average price target of $53.64.

View Our Latest Report on MIRM

Mirum Pharmaceuticals Stock Down 11.4 %

MIRM stock opened at $29.25 on Monday. The company has a current ratio of 3.68, a quick ratio of 3.47 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average price is $25.39 and its 200 day moving average price is $27.24. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $35.56. The company has a market cap of $1.38 billion, a P/E ratio of -7.88 and a beta of 1.10.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). The firm had revenue of $69.22 million during the quarter, compared to analyst estimates of $69.71 million. Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. On average, research analysts expect that Mirum Pharmaceuticals will post -1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt bought 2,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was bought at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the purchase, the chief financial officer now directly owns 14,000 shares in the company, valued at approximately $347,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Peter Radovich sold 4,303 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the completion of the transaction, the chief operating officer now owns 29,013 shares of the company’s stock, valued at approximately $748,535.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Bjerkholt acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the transaction, the chief financial officer now directly owns 14,000 shares of the company’s stock, valued at approximately $347,200. The disclosure for this purchase can be found here. 22.87% of the stock is currently owned by company insiders.

Institutional Trading of Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Avidity Partners Management LP acquired a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $36,114,000. First Turn Management LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth $24,688,000. Janus Henderson Group PLC raised its holdings in Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock valued at $69,470,000 after buying an additional 704,659 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Mirum Pharmaceuticals in the third quarter worth about $21,014,000. Finally, Cadian Capital Management LP boosted its stake in shares of Mirum Pharmaceuticals by 34.8% during the 4th quarter. Cadian Capital Management LP now owns 1,934,922 shares of the company’s stock worth $57,119,000 after acquiring an additional 500,000 shares in the last quarter.

About Mirum Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Mirum Pharmaceuticals (NASDAQ:MIRM)

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