Morgan Stanley raised the firm’s price target on Mirum Pharmaceuticals (MIRM) to $140 from $130 and keeps an Overweight rating on the shares. The firm cites the announcement that the company’s Volixibat delivers rapid, clinically meaningful and statistically significant reductions in primary sclerosing cholangitis, where the unmet need is high, the analyst tells investors in a research note. The data reinforce the firm’s confidence in the potential of volixibat, and it expects momentum to continue with multiple catalysts ahead, Morgan Stanley added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MIRM:
- Mirum Pharmaceuticals price target raised to $175 from $150 at H.C. Wainwright
- Mirum’s Volixibat Succeeds in Phase 2b PSC Itch Trial
- Mirum announces primary endpoint met in VISTAS Phase 2b study of volixibat
- Mirum Pharmaceuticals price target raised to $130 from $125 at Stifel
- Mirum Pharmaceuticals price target raised to $112 from $95 at Baird