H.C. Wainwright sets Mirum stock Buy rating, $73 target

On Monday, H.C. Wainwright initiated coverage on Mirum Pharmaceuticals (NASDAQ:MIRM), assigning a Buy rating to the company’s shares with a price target of $73.00. This aligns with the broader Wall Street sentiment, as InvestingPro data shows analyst targets ranging from $53 to $79, with a strong buy consensus. The firm’s analyst highlighted Mirum’s effective commercial strategies and regulatory approvals as key drivers for the company’s growth prospects in 2025 and beyond.

Mirum Pharmaceuticals, a biopharmaceutical company focused on developing treatments for rare diseases, has been recognized for its successful commercialization of three small-molecule drug products: Livmarli (maralixibat), Cholbam (cholic acid), and Ctexli (chenodiol). These products have contributed to the company’s significant revenue growth.

In 2024, Mirum achieved $336 million in product revenue, marking an 88% year-over-year increase. This surge was attributed to strong clinical demand and the expansion of its market presence internationally. The company’s momentum continued into the first quarter of 2025, with sales reaching a record high of $111.6 million, a 61% increase compared to the $69.2 million earned in the first quarter of the previous year. InvestingPro data reveals impressive financial metrics, including a robust gross profit margin of 77.1% and a healthy current ratio of 3.22, indicating strong operational efficiency and liquidity.

The robust financial performance of Mirum Pharmaceuticals reflects the company’s ability to effectively meet the needs of patients with rare diseases through its specialized drug products. The continued growth in sales underscores the strength of Mirum’s commercial execution and its potential for sustained growth in the rare disease therapeutics market.

With the initiation of coverage and the setting of a positive price target, H.C. Wainwright signals confidence in Mirum Pharmaceuticals’ trajectory and its capacity to maintain an upward trend in the pharmaceutical industry. The firm’s outlook for Mirum is firmly grounded in the company’s recent commercial success and the strategic approvals that have paved the way for its current and future growth. According to InvestingPro, which rates the company’s overall financial health as "GREAT," the stock appears slightly undervalued based on its Fair Value analysis. Subscribers can access 8 additional ProTips and a comprehensive Pro Research Report covering all aspects of Mirum’s financial performance and growth potential.

In other recent news, Mirum Pharmaceuticals reported impressive first-quarter 2025 financial results, with revenue reaching $111.6 million, significantly surpassing the forecast of $98.02 million. The company has subsequently raised its full-year revenue guidance to a range of $435-$450 million. Analysts from JMP Securities and Evercore ISI have both increased their price targets for Mirum Pharmaceuticals to $76, reflecting a positive outlook on the company’s financial trajectory and product performance. The company’s key product, Livmarli, generated $50 million in U.S. sales and $24 million internationally, driven by strong demand and recent product approvals. Additionally, Mirum is advancing its clinical trials, with the VISTAS trial for Primary Sclerosing Cholangitis expected to complete enrollment in the next quarter. The company is also preparing to initiate a Phase 2 trial for a new treatment for Fragile X Syndrome. Analysts have expressed optimism about Mirum’s future, highlighting the company’s strategic advancements and robust pipeline development.

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