Citizens Reiterates Market Outperform Rating on Mirum Pharmaceuticals (MIRM)

Citizens analyst Jonathan Wolleben reiterated a Market Outperform rating and $132.00 price target on Mirum Pharmaceuticals (NASDAQ: MIRM).

The analyst commented, "We are encouraged by management’s continued execution, with enrollment now complete in the Phase 3 EXPAND study, setting up a 4Q data readout that could extend Livmarli beyond Alagille syndrome and PFIC into a broader set of rare cholestatic pruritic disorders. Management estimates there are >1,000 patients with ultra-rare cholestasis between the U.S. and EU and success in EXPAND could lead to an additional $300-$400M in sales for the Livmarli franchise which brought in $360M in 2025. We believe the rapid enrollment of the basket trial underscores strong demand, with management confident in pruritus benefit across the ultra-rare settings based on real-world and compassionate-use experience. We continue to be impressed by Livmarli’s dynamics with durable growth in Alagille syndrome and accelerating PFIC patient starts, and we see EXPAND as a meaningful upside. Near term, we expect investors to be focused on two key pipeline catalysts coming next quarter: 1) pivotal PSC data for volixibat, and 2) interim Phase 3 data for brelovitug in HDV while the EXPAND readout will provide another value inflection point later this year."

For an analyst ratings summary and ratings history on Mirum Pharmaceuticals click here. For more ratings news on Mirum Pharmaceuticals click here.

Shares of Mirum Pharmaceuticals closed at $92.64 yesterday.

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