Joseph Thome, an analyst from TD Cowen, has initiated a new Buy rating on Mirum Pharmaceuticals (MIRM).
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Joseph Thome has given his Buy rating due to a combination of factors that highlight Mirum Pharmaceuticals’ strong position in the rare disease market. The company boasts a robust portfolio with three approved products targeting rare liver diseases, including Livmarli, which has shown impressive adoption in treating pediatric cholestatic liver diseases such as Alagille syndrome and progressive familial intrahepatic cholestasis. The ongoing Phase III “EXPAND” trial for Livmarli further underscores its potential for broader application, with expectations of significant sales growth.
Additionally, Mirum’s acquisition of Ctexli and Cholbam has bolstered its bile acid portfolio, providing a steady revenue stream with promising growth prospects. The company’s pipeline also includes volixibat, which has demonstrated efficacy in treating pruritus in primary sclerosing cholangitis and primary biliary cholangitis, with optimistic projections for its market potential. These strategic developments and the anticipated expansion of their product offerings position Mirum Pharmaceuticals for both near- and long-term growth, justifying the Buy rating.
Thome covers the Healthcare sector, focusing on stocks such as United Therapeutics, PTC Therapeutics, and Alkermes. According to TipRanks, Thome has an average return of 5.3% and a 51.24% success rate on recommended stocks.
In another report released on September 17, Citizens JMP also reiterated a Buy rating on the stock with a $81.00 price target.