Mirum Pharamceuticals (MIRM) PT Raised to $39 at Baird

Baird analyst Brian Skorney raised the price target on Mirum Pharamceuticals (NASDAQ: MIRM) to $39.00 (from $34.00) while maintaining a Outperform rating.

The analyst commented: "Raising target price on positive volixibat results. Volixibat demonstrated unprecedented reductions in pruritis in the Phase 2 VANTAGE study in PBC, opening the door for a competitive profile in PBC and a clear road to approval in PSC. We believe these results are better than expected, with the itch reductions surpassing what has been seen from seladelpar. As a result we are increasing our probability of success for volixibat across these two indications and raising our target price to $39."

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