Mirum Pharmaceuticals ( (MIRM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Mirum Pharmaceuticals’ stock climbed after the company secured a $68.5 million private placement to help fund its acquisition of Bluejay Therapeutics and advance its clinical programs, moves seen as strengthening its growth prospects and competitive position. In response, analysts raised their price targets, highlighting the potential from upcoming pivotal trial readouts and the strategic benefits of recent deals. However, some caution remains on Wall Street due to Mirum’s ongoing lack of profitability and elevated leverage, which temper the otherwise bullish outlook.
More about Mirum Pharmaceuticals
YTD Price Performance: 67.17%
Average Trading Volume: 666,357
Technical Sentiment Signal: Buy
Current Market Cap: $3.57B
For further insights into MIRM stock on TipRanks’ Stock Analysis page.
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