Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target Raised to $112.00 at Robert W. Baird

Key Points

• Robert W. Baird raised its price target on Mirum to $112 and kept an "outperform" rating, implying roughly a 21% upside from the prior close.
• Analyst consensus is a Moderate Buy with an average target of $121.33; most firms rate the stock Buy (12 Buy, 1 Strong Buy, 1 Sell) and targets range up to $132.
• Shares trade around $92.48 (50‑day SMA $94.34; 52‑week range $40–$109.28); the company posted revenue up 49.8% YoY but missed EPS and remains unprofitable, while insiders sold about 89,513 shares (~$8.38M) in the past 90 days.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its price objective upped by equities researchers at Robert W. Baird from $95.00 to $112.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 21.11% from the stock's previous close.

MIRM has been the topic of a number of other reports. Morgan Stanley lifted their target price on shares of Mirum Pharmaceuticals from $95.00 to $123.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Citizens Jmp reaffirmed a "market outperform" rating and set a $132.00 target price on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday, February 28th. Stifel Nicolaus lifted their target price on shares of Mirum Pharmaceuticals from $98.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $121.33.

Mirum Pharmaceuticals Stock Up 1.1%

Shares of NASDAQ MIRM opened at $92.48 on Tuesday. The company's 50-day simple moving average is $94.34 and its 200-day simple moving average is $84.92. Mirum Pharmaceuticals has a 52-week low of $40.00 and a 52-week high of $109.28. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of -192.66 and a beta of 0.51. The company has a quick ratio of 2.55, a current ratio of 2.67 and a debt-to-equity ratio of 0.98.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.13). The company had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The firm's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS. Equities analysts predict that Mirum Pharmaceuticals will post -1.77 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 7,287 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer owned 49,788 shares in the company, valued at $4,579,500.24. The trade was a 12.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Peter Radovich sold 16,515 shares of the company'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 $1,519,049.70. Following the completion of the transaction, the chief operating officer owned 40,272 shares of the company's stock, valued at approximately $3,704,218.56. The trade was a 29.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 89,513 shares of company stock worth $8,377,249 over the last ninety days. 22.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth about $30,000. MCF Advisors LLC increased its position in shares of Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company's stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth about $32,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth about $32,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals during the third quarter worth about $33,000.

About Mirum Pharmaceuticals

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.

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