Evercore ISI raised the firm’s price target on Mirum Pharmaceuticals (MIRM) to $94 from $89 and keeps an Outperform rating on the shares after the company agreed to acquire Bluejay Therapeutics for $250M in cash and $370M in Mirum common stock, plus potential tiered sales-based milestone payments of up to $200M in cash. The firm views this as “a very high clinical/regulatory PoS deal” and models 90% overall probability of success, adding it is “a super smart deal” and the firm is “big fans.”
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