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Investing.com - Citizens JMP has reiterated its Market Outperform rating and $81.00 price target on Mirum Pharmaceuticals (NASDAQ:MIRM), citing new preclinical data supporting PDE-4D inhibition in Fragile X syndrome (FXS) ahead of the company’s Phase 2 trial scheduled to begin in Q4. According to InvestingPro data, five analysts have recently revised their earnings upward, with price targets ranging from $66 to $89, reflecting strong confidence in the company’s potential.
The firm views the FXS opportunity favorably, noting it affects approximately 50,000 patients in the U.S. and EU, with Mirum estimating a market opportunity exceeding $1 billion for its drug candidate MRM-3379. The preclinical data suggests MRM-3379 may have a wider therapeutic window than competitors, potentially translating to greater patient benefits. With a robust current ratio of 3.13 and moderate debt levels, InvestingPro analysis indicates the company is well-positioned financially to pursue this opportunity.
Phase 2 data for MRM-3379 could arrive as early as 2026, depending on enrollment speed, with the 12-week change in NIH-TCB CCC score serving as the key efficacy endpoint. For comparison, Shionogi’s zatolmilast showed a 5.29 point benefit in its Phase 2 trial, with Phase 3 data expected later this year.
Citizens JMP also highlighted Mirum’s volixibat program, with registrational Phase 2b data for primary sclerosing cholangitis (PSC) expected in Q2 2026. The firm considers this a key catalyst as volixibat could become the first approved drug for this condition.
Mirum Pharmaceuticals stock has gained 79% year-to-date, with impressive revenue growth of 62% in the last twelve months, and Citizens JMP believes shares are positioned to move higher on volixibat’s likely success. For deeper insights into MIRM’s valuation and growth potential, including 12 additional ProTips and comprehensive financial analysis, visit InvestingPro.
In other recent news, Mirum Pharmaceuticals reported strong financial results for the second quarter of 2025, with total revenues reaching $127.8 million. This represents a 64% increase compared to the same period in 2024, surpassing expectations of $107.36 million. The company also reported an earnings per share (EPS) of -$0.12, significantly beating the forecasted -$0.33. Following these results, Mirum raised its 2025 revenue guidance to between $490 million and $510 million, reflecting a 48% year-over-year growth at the midpoint.
In response to these developments, JMP Securities increased its price target for Mirum Pharmaceuticals to $81, maintaining a Market Outperform rating. Similarly, H.C. Wainwright raised its price target from $73 to $80, while continuing to rate the stock as a Buy. Stifel also resumed coverage of Mirum with a Buy rating, citing the company’s cash-flow positive and high-growth commercial business. These analyst updates reflect confidence in Mirum’s growth prospects and financial performance.
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