Mirum Pharmaceuticals price target raised to $100 from $90 at Leerink

Leerink raised the firm’s price target on Mirum Pharmaceuticals (MIRM) to $100 from $90 and keeps an Outperform rating on the shares. The firm updated its Mirum model for the Bluejay acquisition terms and concurrent Private Investment in Public Equity, both expected to close in Q1. Meanwhile, clinical development and commercialization of brelovitug is expected to require about $250M over the next two years, and Mirum will pay up to $200M in tiered sales milestones, the analyst tells investors in a research note. Following encouraging Phase 2 ddata for brelovitug for the treatment of chronic hepatitis delta, Phase 3 interim data is expected in 2Q26 and topline results in 2H26, the analyst adds.