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

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective raised by investment analysts at Robert W. Baird from $44.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 8.08% from the stock’s previous close.

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

Mirum Pharmaceuticals Trading Up 5.3 %

Shares of NASDAQ:MIRM opened at $46.26 on Wednesday. The stock’s 50-day simple moving average is $39.96 and its two-hundred day simple moving average is $35.79. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -23.55 and a beta of 1.16. Mirum Pharmaceuticals has a 52-week low of $23.14 and a 52-week high of $48.89. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.09 and a current ratio of 3.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 40.98% and a negative net margin of 31.69%. The company had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. During the same period last year, the firm earned ($0.57) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 89.4% compared to the same quarter last year. Analysts expect that Mirum Pharmaceuticals will post -1.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC raised its stake in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after purchasing an additional 1,127 shares in the last quarter. Amalgamated Bank raised its position in shares of Mirum Pharmaceuticals by 60.8% during the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock valued at $46,000 after buying an additional 513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after acquiring an additional 318 shares during the last quarter. ProShare Advisors LLC purchased a new position in Mirum Pharmaceuticals in the second quarter worth about $213,000. Finally, Creative Planning bought a new stake in Mirum Pharmaceuticals during the third quarter worth approximately $249,000.

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.