Robert W. Baird Issues Positive Forecast for Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Price

Mirum Pharmaceuticals (NASDAQ:MIRM) had its price target raised by investment analysts at Robert W. Baird from $123.00 to $130.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 47.79% from the company’s current price.

MIRM has been the subject of several other research reports. Weiss Ratings raised Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday. TD Cowen lowered their price objective on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Morgan Stanley set a $144.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday. Finally, HC Wainwright raised their target price on shares of Mirum Pharmaceuticals from $140.00 to $195.00 and gave the company a “buy” rating in a research report on Monday. One equities research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $141.62.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $87.96 on Tuesday. The firm’s 50 day simple moving average is $100.33 and its 200 day simple moving average is $101.48. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of -6.05 and a beta of 0.49. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 1 year low of $63.23 and a 1 year high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. As a group, research analysts expect that Mirum Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the sale, the chief executive officer directly owned 194,440 shares in the company, valued at $19,187,339.20. The trade was a 13.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 126,220 shares of company stock worth $13,181,004. Insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. raised its position in Mirum Pharmaceuticals by 2.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock worth $539,000 after purchasing an additional 103 shares during the last quarter. ABS Investment Management LLC acquired a new position in Mirum Pharmaceuticals during the 2nd quarter worth about $245,847,000. Faithward Advisors LLC grew its position in shares of 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 buying an additional 126 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at about $27,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at about $44,000.

Key Mirum Pharmaceuticals News

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.

About Mirum Pharmaceuticals

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.