Mirum Pharmaceuticals stock soars to all-time high of $48.94

Mirum Pharmaceuticals Inc . (NASDAQ:MIRM) has reached an impressive milestone, with its stock price soaring to an all-time high of $48.94. This peak represents a significant achievement for the biopharmaceutical company, which specializes in developing innovative treatments for rare liver diseases. According to InvestingPro data, the company boasts a market capitalization of $2.32 billion and maintains strong financial health with a current ratio of 3.34, indicating robust liquidity management. Over the past year, Mirum Pharmaceuticals has seen an extraordinary surge in its stock value, with a 1-year change data showing an 82.52% increase. This remarkable growth underscores the market's confidence in the company's research and development pipeline and its potential to bring transformative therapies to patients in need. InvestingPro analysis reveals impressive revenue growth of 112% and analyst price targets ranging from $50 to $74, suggesting further upside potential. Discover 10+ additional exclusive insights and detailed financial analysis available through InvestingPro's comprehensive research report.

In other recent news, Mirum Pharmaceuticals has reported robust financial results, exceeding its 2024 sales forecast with net product sales of approximately $336 million. The company also anticipates global net product sales in 2025 to reach between $420 million and $435 million. Mirum's strong performance is underlined by a 112% revenue growth over the last twelve months. As per InvestingPro's analysis, the company appears slightly overvalued based on its Fair Value assessment, but analysts maintain a Strong Buy consensus.

Mirum has achieved several milestones, including the expanded use of its drug LIVMARLI and positive interim results for its volixibat treatments in cholestatic diseases. The company also submitted a New Drug Application for chenodiol and acquired rights to MRM-3379 for Fragile X syndrome. Mirum's financial strength is highlighted by a year-end cash balance of roughly $287 million and positive cash flow from operations in the third quarter of 2024.

The company expects significant advancements in its clinical programs, with the VISTAS study of volixibat expected to complete enrollment in the second half of 2025 and topline data anticipated in 2026. The FDA has set a Prescription Drug User Fee Act date for chenodiol in cerebrotendinous xanthomatosis for March 28, 2025. Lastly, Mirum's global reach has grown, with commercial access now spanning 30 countries and successful product launches in major European markets.

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