Breaking News

Mirum Pharmaceuticals initiated with an Outperform at Raymond James. Raymond James analyst Steven Seedhouse initiated Mirum Pharmaceuticals with an Outperform rating and $28 price target. In a research note to investors, Seedhouse says that despite mixed results in previous maralixibat trials in rare pediatric and adult liver diseases, the most recent datasets for maralixibat in Alagille Syndrome and progressive familial intrahepatic cholestasis suggest maralixibat is effective at reducing bile acids and pruritus and was simply underdosed in prior studies.

Mirum Pharmaceuticals initiated with a Buy at Roth Capital. Roth Capital analyst Yasmeen Rahimi started coverage of Mirum Pharmaceuticals with a Buy rating and $33 price target. With a successful IPO on July 18, about $175M cash on hand and two Phase 3 trials underway, the analyst believes Mirum is positioned to succeed in the orphan pediatric liver space.

Guggenheim starts Mirum Pharmaceuticals at Buy with $18 price target. As previously reported, Guggenheim analyst Whitney Ijem initiated Mirum Pharmaceuticals with a Buy rating, citing the view that data so far and the Phase 3 designs for its lead programs for maralixibat for rare pediatric diseases increase their probability of success. The analyst currently models maralix peak sales of about $370M in the indications of Alagille syndrome and progressive familial intrahepatic cholestasis type 2. Ijem set a $18 price target on Mirum shares.

Mirum Pharmaceuticals initiated with a Buy at Citi. Citi analyst Joel Beatty started Mirum Pharmaceuticals with a Buy rating and $21 price target. The analyst believes maralixibat could potentially be approved by FDA based on its existing data. Data to date validates Maralixibat's mechanism for Alagille syndrome, Beatty tells investors in a research note.

Mirum Pharmaceuticals initiated with a Buy at Guggenheim. Guggenheim analyst Whitney Ijem initiated Mirum Pharmaceuticals with a Buy.

Mirum Pharmaceuticals initiated with an Outperform at Evercore ISI. Evercore ISI analyst Josh Schimmer initiated Mirum Pharmaceuticals with an Outperform.