Mirum Pharmaceuticals stock price target raised to $81 by JMP

Investing.com - JMP Securities raised its price target on Mirum Pharmaceuticals (NASDAQ:MIRM) to $81.00 from $79.00 on Thursday, maintaining a Market Outperform rating following strong quarterly results. The company, currently valued at $2.64 billion, has demonstrated impressive momentum with its stock trading near its 52-week high of $54.78. According to InvestingPro data, the company maintains strong financial health with a current ratio of 3.22.

The biopharmaceutical company exceeded expectations with its Livmarli and bile acid sales, prompting management to raise its 2025 guidance to $490M-$510M, representing 48% year-over-year growth at the midpoint. This follows an impressive revenue growth of 69.31% over the last twelve months, with a robust gross profit margin of 77.1%. Want deeper insights? InvestingPro subscribers have access to 10+ additional ProTips and comprehensive financial analysis for MIRM and 1,400+ other stocks through detailed Pro Research Reports.

JMP noted that strong second-quarter U.S. Livmarli sales of $57M were driven by continued patient demand across both indications, with nearly 50% penetration in Alagille syndrome (ALGS). The label expansion to Progressive Familial Intrahepatic Cholestasis (PFIC) has increased awareness, with higher-than-expected patient numbers.

Patient persistence on Livmarli in ALGS remains strong at approximately 70-75% in the first year with improvement over time, while the single tablet formulation approval in June is expected to contribute positively moving forward.

The company’s pivotal VISTAS trial of volixibat for Primary Sclerosing Cholangitis (PSC) is completing enrollment this quarter, with top-line data expected in the second quarter of 2026, while enrollment of Primary Biliary Cholangitis (PBC) patients in the pivotal VANTAGE trial is expected to complete next year.

In other recent news, Mirum Pharmaceuticals Inc . announced its Q2 2025 earnings, revealing a substantial improvement in its financial performance. The company reported an earnings per share (EPS) of -$0.12, which was a significant beat against the anticipated -$0.33. Revenue for the quarter reached $127.78 million, exceeding expectations of $107.36 million, resulting in a 19.02% surprise. These results highlight a positive development for the company, as it continues to surpass financial forecasts. The earnings announcement has garnered attention from various analyst firms, although specific upgrades or downgrades were not mentioned in the recent reports. Investors and market watchers are likely to keep an eye on Mirum Pharmaceuticals for further developments.

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