Wolfe Research initiated coverage on Mirum Pharmaceuticals (NASDAQ:MIRM) with an outperform rating and a $145 price target. The stock currently trades at $95.49, implying significant upside. Despite a 10.7% weekly decline, shares surged 113% over the past year.
The firm expects Livmarli to reach peak worldwide sales of ~$940 million and bile acid medicines ~$275 million. Livmarli is approved for ALGS and PFIC, with a potential label expansion in Q4 2026.
Volixibat for PSC and PBC could become the biggest growth driver with peak sales of ~$1.7 billion. Wolfe expects Volixibat could be the first approved drug in PSC in 2027.
Brelovitug targets chronic HDV infections, with topline results from AZURE-1 and AZURE-4 expected in H2 2026. Zilurgisertib has a September 2026 PDUFA date for FOP.
Mirum's revenue grew 50% but remains unprofitable. According to Bond.az analysis, the stock appears overvalued relative to fair value.
