Procore signs multi-year strategic collaboration agreement with AWS
On Thursday, Evercore ISI increased the price target for Mirum Pharmaceuticals (NASDAQ:MIRM) shares from $68.00 to $76.00, keeping an Outperform rating on the stock. The firm’s analyst, Gavin Clark-Gartner, noted a significant revenue beat with Livmarli sales surpassing expectations by approximately $10 million, or about 15%. The U.S. sales of Livmarli reached $49.5 million, while sales outside the U.S. were $23.7 million, which included minimal PFIC (Progressive Familial Intrahepatic Cholestasis) inclusion ex-U.S. According to InvestingPro data, the company has achieved impressive revenue growth of 80.76% over the last twelve months, with a robust gross profit margin of 75.77%.
Mirum Pharmaceuticals has also raised its FY25 revenue guidance from the range of $420-435 million to a new range of $435-450 million. This update reflects a positive outlook for the company’s financial performance. InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 3.1, suggesting ample liquidity to meet short-term obligations. While currently trading near its Fair Value, investors can access detailed valuation metrics and 7 additional ProTips through InvestingPro’s comprehensive Research Report.
In addition, the analyst highlighted progress in the development of treatments for Primary Sclerosing Cholangitis (PSC). The enrollment for the registrational VISTAS trial is expected to be completed in the third quarter of 2025, with data anticipated in the second quarter of 2026. This timeline is a quarter ahead of what was previously expected and addresses concerns about slow enrollment that had previously caused investor hesitation.
For Primary Biliary Cholangitis (PBC), Mirum is on track with enrollment expected to be completed in 2026. Clark-Gartner also mentioned new long-term data presented at the European Association for the Study of the Liver (EASL) conference, which included a 28-week timeframe compared to previously interim 16-week data. The morning also brought attention to late-breaking abstract data on linerixibat, a Phase 3 PBC treatment, suggesting that Mirum’s volixibat shows great tolerability and a slightly deepening itch benefit, potentially differentiating it in the market.
The overall update from Evercore ISI reflects a positive view on Mirum Pharmaceuticals’ trajectory, emphasizing key developments in the company’s pipeline and improved revenue forecasts.
In other recent news, Mirum Pharmaceuticals reported its first-quarter 2025 financial results, showcasing a notable revenue achievement. The company exceeded expectations with a revenue of $111.6 million, surpassing the forecasted $98.02 million. Earnings per share (EPS) also slightly outperformed predictions, coming in at -0.3 against an expected -0.31. Mirum Pharmaceuticals has raised its full-year revenue guidance to a range of $435-$450 million, reflecting confidence in its growth potential. The company has received several regulatory approvals, including FDA approval for Citexly and LIVMARLI in Japan, which are expected to contribute to future growth. Analysts from firms such as Evercore and JPMorgan have been engaging with Mirum on various strategic topics, including the company’s international market dynamics and product development progress. The company continues to focus on expanding its rare disease pipeline, with significant progress reported in ongoing studies. These recent developments highlight Mirum Pharmaceuticals’ strategic advancements and robust financial performance in the rare disease market.
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