Analyst Jonathan Wolleben from JMP Securities reiterated a Buy rating on Mirum Pharmaceuticals (MIRM – Research Report) and keeping the price target at $74.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors related to Mirum Pharmaceuticals’ strategic advancements and market potential. The recent approval of Livmarli in Japan marks a significant milestone as it becomes the first approved treatment for cholestatic pruritus in patients with ALGS and PFIC. This approval not only enhances Mirum’s global footprint but also positions the company to receive substantial royalties from net sales, which are anticipated to positively impact its valuation.
Furthermore, the growth trajectory of Livmarli is bolstered by both geographic and label expansion, consistently outperforming its competitor. Mirum’s future prospects are further strengthened by the ongoing development of volixibat, a next-generation IBAT inhibitor, which is projected to be a blockbuster opportunity in treating PSC and PBC. The company’s revenue expectations for 2025, alongside the promising progress in pivotal trials, underscore the potential for substantial growth and regulatory success, justifying the Buy rating.
In another report released on March 21, Morgan Stanley also reiterated a Buy rating on the stock with a $65.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock.