Mirum Pharmaceuticals stock soars to all-time high of $49.59

Mirum Pharmaceuticals Inc . (NASDAQ:MIRM) stock has reached an impressive milestone, soaring to an all-time high of $49.59. With a market capitalization of $2.34 billion, this peak reflects a significant surge in investor confidence, as the company’s stock has experienced an 86.16% increase over the past year. According to InvestingPro data, the company has demonstrated remarkable revenue growth of 112% in the last twelve months. The remarkable ascent to this record price level underscores the market’s optimistic view of Mirum’s potential, as the pharmaceutical company continues to make strides in developing treatments for rare and debilitating diseases. With a strong current ratio of 3.34 and analyst price targets reaching as high as $74, investors are closely monitoring Mirum’s progress, anticipating further growth as the company advances its clinical programs and seeks to bring new therapies to market. Discover more valuable insights about MIRM and access comprehensive analysis with InvestingPro, which offers 12 additional investment tips for this stock.

In other recent news, Mirum Pharmaceuticals has reported significant financial growth, surpassing its 2024 sales guidance with net product sales of approximately $336 million. The company also projects an optimistic outlook for 2025, with global net product sales expected to reach between $420 million and $435 million. This follows a remarkable 112% revenue growth over the last twelve months.

Mirum Pharmaceuticals has also seen success in its product portfolio, with expanded usage 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, expanding its rare genetic neurology portfolio.

H.C. Wainwright reiterated a Buy rating on Mirum Pharmaceuticals following the company’s strong third-quarter sales results. The company reported an impressive 25% quarterly increase in net sales, reaching $59.1 million, up from $47.2 million in the previous quarter.

Mirum Pharmaceuticals continues to invest in its pipeline despite a reported net loss for the quarter, supported by substantial cash reserves. The company’s strategic moves and strong demand for their products, particularly LIVMARLI, have led to increased revenue guidance. These are some of the recent developments for Mirum Pharmaceuticals.

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