In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Mirum Pharmaceuticals (MIRM – Research Report), with a price target of $72.00.
Ed Arce has given his Buy rating due to a combination of factors highlighting Mirum Pharmaceuticals’ promising financial and clinical outlook. The company is projected to achieve positive operating cash flow in 2025, driven by an expected 28% revenue growth. This growth is supported by the strong performance of LIVMARLI, which showed significant sales increase in treating Alagille syndrome and progressive familial intrahepatic cholestasis.
Additionally, the recent FDA approval of CTEXLI for cerebrotendinous xanthomatosis (CTX) is anticipated to expand its market reach, as it is the first approved treatment for adult CTX patients. The approval could lead to earlier diagnoses and treatment, potentially increasing the number of eligible patients. Furthermore, Mirum’s ongoing clinical trials, such as the Phase 3 EXPAND study and the Phase 2 VISTAS study, present potential future growth opportunities. These factors collectively position Mirum as a robust commercial-stage company with multiple avenues for future success.
According to TipRanks, Arce is a 5-star analyst with an average return of 16.1% and a 47.50% success rate. Arce covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Ultragenyx Pharmaceutical, and Acurx Pharmaceuticals.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $74.00 price target.