Robert W. Baird Forecasts Strong Price Appreciation for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price objective increased by Robert W. Baird from $123.00 to $130.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 47.79% from the company’s current price.

A number of other research firms have also recently issued reports on MIRM. Citigroup reissued a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Royal Bank Of Canada lowered their target price on Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Finally, Morgan Stanley set a $144.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.62.

Mirum Pharmaceuticals Trading Down 1.9%

MIRM opened at $87.96 on Tuesday. The firm’s fifty day moving average is $100.33 and its two-hundred day moving average is $101.48. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The firm has a market cap of $5.71 billion, a PE ratio of -6.05 and a beta of 0.49. Mirum Pharmaceuticals has a twelve month low of $63.23 and a twelve month high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The firm had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. During the same period in the prior year, the business earned ($0.12) earnings per share. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities research analysts anticipate that Mirum Pharmaceuticals will post -1.31 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer owned 36,355 shares in the company, valued at approximately $3,631,864.50. The trade was a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.00, for a total value of $65,800.00. Following the transaction, the senior vice president directly owned 616 shares of the company’s stock, valued at approximately $61,600. This trade represents a 51.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 126,220 shares of company stock valued at $13,181,004. 8.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIRM. Contravisory Investment Management Inc. grew its position in Mirum Pharmaceuticals by 2.3% during the second quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock worth $539,000 after buying an additional 103 shares in the last quarter. ABS Investment Management LLC acquired a new position in Mirum Pharmaceuticals in the 2nd quarter valued at $245,847,000. Faithward Advisors LLC raised its holdings in Mirum Pharmaceuticals by 0.5% in the 1st quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock valued at $2,537,000 after acquiring an additional 126 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at $27,000. Finally, Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at $44,000.

Mirum Pharmaceuticals News Summary

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Phase 3 AZURE-1 success: Mirum reported that brelovitug met the primary endpoint in a late-stage study for chronic hepatitis delta virus (HDV), reducing virus levels in patients. The result could support future regulatory filings and expand Mirum’s growth opportunities. Reuters article
• Positive Sentiment: FDA approval for Atebrioz: The FDA approved Atebrioz for patients aged 12 and older with fibrodysplasia ossificans progressiva (FOP), an ultra-rare disorder involving abnormal bone formation. The approval gives Mirum another commercial product and may diversify revenue beyond its existing liver-disease portfolio. Zacks article
• Positive Sentiment: Higher analyst targets and forecasts: HC Wainwright maintained a Buy rating and lifted its price target from $140 to $195. It also raised projected 2027 EPS to $1.42 from $1.28, including estimates of $0.09, $0.18 and $0.80 for the first, second and fourth quarters, respectively. Citizens separately raised its target to $144. HC Wainwright forecast article
• Neutral Sentiment: The AZURE-1 announcement reported achievement of the primary endpoint, but investors will still look for detailed efficacy, safety and regulatory information before assigning full value to brelovitug.
• Negative Sentiment: Mirum remains unprofitable, with consensus estimates calling for a current-year loss of $1.31 per share. Its latest reported quarter also missed EPS expectations despite revenue exceeding forecasts, leaving execution and commercialization risks.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on liver and gastrointestinal disorders. The company’s medicines are intended to address serious conditions for which available treatment options are limited.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor approved in the United States for the treatment of cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible patients.