Analyst Michael Ulz from Morgan Stanley maintained a Buy rating on Mirum Pharmaceuticals (MIRM – Research Report) and increased the price target to $65.00 from $63.00.
Michael Ulz has given his Buy rating due to a combination of factors that highlight Mirum Pharmaceuticals’ promising financial and strategic position. The company’s reported sales for Livmarli were consistent with pre-announced figures, showing strong demand for its products, particularly in treating Alagille syndrome and PFIC. This consistency in sales performance, slightly exceeding the upper end of their guidance, suggests robust revenue growth and a positive outlook for the company.
Furthermore, management’s reiteration of their 2025 sales guidance, which is above expectations, indicates confidence in continued growth. The company’s pipeline progress, including the EXPAND study and developments in volixibat and MRM-3379, remains on track, supporting future revenue potential. Additionally, Mirum’s strategic focus on acquiring and licensing opportunities in rare diseases aligns with its growth objectives, making it a compelling investment opportunity according to Ulz’s analysis.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $74.00 price target.