Mirum Pharmaceuticals price target raised to $45 from $40 at Cantor Fitzgerald

Cantor Fitzgerald analyst Joshua Schimmer raised the firm’s price target on Mirum Pharmaceuticals to $45 from $40 and keeps an Overweight rating on the shares. The firm came away from a webinar with Mirum previewing upcoming Phase 2b interim data readouts for volixibat for the treatment of primary sclerosing cholangitis and primary biliary cholangitis with high confidence in the outcome of these studies and believes the firm has modeled a volixibat price that is significantly lower than what it likely will be, the analyst tells investors in a research note. The firm sees a path to meaningful profitability even without volixibat.