JMP Securities analyst Jonathan Wolleben reiterated a Buy rating on Mirum Pharmaceuticals (MIRM – Research Report) today and set a price target of $74.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors including Mirum Pharmaceuticals’ strong financial performance and strategic advancements in their pipeline. The company has reiterated its revenue guidance for 2025, projecting significant growth which aligns with market expectations. This confidence is bolstered by the successful sales of Livmarli, which are in line with preliminary announcements, and the promising outlook for their pivotal VISTAS trial of volixibat for PSC, expected to complete enrollment by the second half of 2025.
Furthermore, Mirum’s shares have shown impressive growth, significantly outperforming the market, driven by derisked data in key therapeutic areas such as PSC and PBC. The company’s management is effectively executing its strategy, with continued growth in Livmarli sales and recent approvals enhancing their market position. The potential for a blockbuster opportunity in PSC and PBC, along with a possible swing to profitability by 2027, strengthens the Buy rating. Additionally, the upcoming Phase 2 trial for MRM3379 in Fragile X Syndrome presents further upside potential, making Mirum a compelling investment in the smid-cap space.
According to TipRanks, Wolleben is a 4-star analyst with an average return of 3.7% and a 39.48% success rate. Wolleben covers the Healthcare sector, focusing on stocks such as Larimar Therapeutics, Structure Therapeutics, Inc. Sponsored ADR, and Protagonist Therapeutics.