Mirum Pharmaceuticals: Strong Buy Rating Backed by Robust Growth Prospects in Rare Disease Market

James Condulis, an analyst from Stifel Nicolaus, has initiated a new Buy rating on Mirum Pharmaceuticals (MIRM).

James Condulis has given his Buy rating due to a combination of factors that highlight Mirum Pharmaceuticals’ strong position in the rare disease biotechnology sector. The company boasts a cash-flow positive and rapidly growing commercial business, supported by promising products like Livmarli, which is expected to continue its robust performance. Livmarli’s growth is driven by its dominance in the IBATi-naive market and the potential expansion in the ALGS and PFIC segments, with a projected market opportunity of approximately $1 billion.
Furthermore, Mirum’s pipeline includes volixibat, which is positioned as a significant growth driver with upcoming pivotal data in PSC and PBC. The company’s strategic positioning in these large rare disease markets, coupled with its innovative approaches and strong management team, underpins the Buy rating. The anticipated growth from Livmarli and volixibat, alongside the company’s solid financial footing, presents a compelling investment opportunity, even amidst competitive pressures and market challenges.

In another report released on August 7, Evercore ISI also maintained a Buy rating on the stock with a $89.00 price target.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MIRM in relation to earlier this year.