Stifel Reiterates Buy Rating on Mirum Pharamceuticals (MIRM)

Stifel analyst Dae Gon Ha reiterated a Buy rating and $48.00 price target on Mirum Pharamceuticals (NASDAQ: MIRM)

The analyst comments "Today's interim analyses for volixibat studies - primary biliary cholangitis (PBC; VANTAGE) and primary sclerosing cholangitis (PSC; VISTAS) - offer promising attributes that we think should elevate the asset onto investors' radar. After all, despite the validated underlying mechanism (ileal bile acid transporter inhibitor [IBATi]) that has led to Livmarli's approvals, both PBC and PSC were seen as larger but more competitive (PBC), and facing a poorly defined regulatory path (PSC) that negatively affected probability of success (PoS) projections. To be fair, today's update doesn't fully de-risk VISTAS/VANTAGE - and both studies will continue to enroll patients - but emerging signs should already be compelling enough to rethink whether minimal volixibat value (which we think it currently receives from investors) is appropriate and jusitifed. We had been one of the more vocal proponents of the volixibat story for MIRM and find today's updates are very reassuring. Reiterate Buy."

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 $25.92 yesterday.

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