H.C. Wainwright Reiterates Buy Rating on Mirum Pharamceuticals (MIRM)

H.C. Wainwright analyst Ed Arce reiterated a Buy rating and $66.00 price target on Mirum Pharamceuticals (NASDAQ: MIRM).

The analyst commented: "Yesterday, Mirum (one of our 2024 Top Picks) announced 3Q24 LIVMARLI (maralixibat) net sales for Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC) totaling $59.1M, or a 25% quarterly increase from $47.2M in 2Q24, and a 53% increase from $38.7M in 3Q23. Notably, management increased its 2024 global net product sales guidance range to $330M — $335M (an implied 86% annual growth to the midpoint), from the $310M — $320M range previously. Although LIVMARLI sales for PFIC have yet to be separated from total LIVMARLI sales revenue, we learned from management that LIVMARLI PFIC is off to a quick start with about 20 patients who were previously treated with clinical drug substance converted to treatment reimbursed by payors. Affirm Buy and $66 PT."

For an analyst ratings summary and ratings history on Mirum Pharamceuticals click here. For more ratings news on Mirum Pharamceuticals click here.

Shares of Mirum Pharamceuticals closed at $42.28 yesterday.

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