Mirum Pharmaceuticals initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Mirum Pharmaceuticals (MIRM) with an Outperform rating and $145 price target The stock has rallied over the past year by more than 100%, notes the analyst, who thinks momentum will likely continue over the next year with a potential Livmarli label expansion. Volixibat for PSC and PBC “could be the biggest growth driver,” adds the analyst, who sees about $1.7B peak unadjusted worldwide sales.