TD Cowen analyst Joseph Thome maintained a Buy rating on Mirum Pharmaceuticals yesterday and set a price target of $95.00.
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Joseph Thome has given his Buy rating due to a combination of factors that highlight Mirum Pharmaceuticals’ strong performance and promising future prospects. The company reported Q3 revenue slightly above consensus expectations, demonstrating robust patient trends and a solid commercial franchise. The management’s decision to tighten yearly guidance to the upper range reflects confidence in continued growth.
Additionally, the advancement of Mirum’s pipeline, particularly the pivotal volixibat PSC study, is a significant factor in the Buy rating. The study is fully enrolled, with data expected in Q2, and there is optimism from key opinion leaders regarding its success. Furthermore, the potential for volixibat in other studies, such as the VANTAGE study for PBC, and the initiation of a Ph. II study for a PDE4D inhibitor in Fragile X, indicate potential upside and a strong future outlook for the company.
Thome covers the Healthcare sector, focusing on stocks such as United Therapeutics, AnaptysBio, and Intellia Therapeutics. According to TipRanks, Thome has an average return of 20.6% and a 56.00% success rate on recommended stocks.