Baird R W Upgrades Mirum Pharmaceuticals (NASDAQ:MIRM) to “Strong-Buy”

Baird R W upgraded shares of Mirum Pharmaceuticals (NASDAQ:MIRM) to a strong-buy rating in a research note published on Monday morning, Zacks.com reports.

MIRM has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price objective on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an overweight rating in a report on Tuesday. HC Wainwright lifted their target price on Mirum Pharmaceuticals from $58.00 to $66.00 and gave the company a buy rating in a research report on Monday. Cantor Fitzgerald reaffirmed an overweight rating and set a $40.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 9th. Robert W. Baird lifted their target price on Mirum Pharmaceuticals from $34.00 to $39.00 and gave the company an outperform rating in a research report on Monday. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $48.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $53.64.

Mirum Pharmaceuticals Trading Up 6.5 %

NASDAQ MIRM opened at $31.14 on Monday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -8.39 and a beta of 1.10. Mirum Pharmaceuticals has a 52 week low of $23.14 and a 52 week high of $35.56. The business has a 50 day moving average price of $25.49 and a 200-day moving average price of $27.27. 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 (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.14). The firm had revenue of $69.22 million for the quarter, compared to the consensus estimate of $69.71 million. Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. As a group, equities analysts expect that Mirum Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total value of $128,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Saira Ramasastry sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eric Bjerkholt purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the transaction, the chief financial officer now directly owns 14,000 shares in the company, valued at $347,200. The disclosure for this purchase can be found here. Insiders own 22.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Mirum Pharmaceuticals by 34.2% during the 1st 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 during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Mirum Pharmaceuticals by 64.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after purchasing an additional 63,871 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after purchasing an additional 432,824 shares during the period. Affinity Asset Advisors LLC raised its stake in shares of Mirum Pharmaceuticals by 220.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company’s stock valued at $4,019,000 after purchasing an additional 110,000 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Mirum Pharmaceuticals by 0.9% during the 1st quarter. William Blair Investment Management LLC now owns 627,272 shares of the company’s stock valued at $15,757,000 after purchasing an additional 5,494 shares during the period.

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.