Mirum Pharmaceuticals (NASDAQ: MIRM) Price Target Raised by Morgan Stanley on Positive LIVMARLI Study Results

• Morgan Stanley has increased its price target for Mirum Pharmaceuticals (NASDAQ: MIRM) to $152.00 from $137.00, maintaining an Overweight rating.
• Mirum Pharmaceuticals announced its Phase 3 EXPAND study for LIVMARLI met its primary endpoint in treating ultra-rare cholestatic liver diseases.
• The stock is currently trading at $86.06, with a market capitalization of approximately $5.25 billion.

Mirum Pharmaceuticals (NASDAQ: MIRM) is a biopharmaceutical company focused on treatments for rare liver diseases. Morgan Stanley maintains an Overweight rating on the stock and raises its price target to $152.00 from $137.00. An Overweight rating means the firm expects the stock to perform better than comparable stocks.

The stock trades at $86.06 when the rating action is posted. Morgan Stanley’s new target is $65.94 above that price, or about 76.6% higher. A price target is an analyst’s estimate, not a guaranteed future price.

Mirum says its Phase 3 EXPAND study of LIVMARLI (maralixibat) meets its primary endpoint in ultra-rare cholestatic liver diseases. A primary endpoint is the main result a study is designed to measure. The announcement provided here does not include the endpoint’s details, efficacy figures, or safety results.

The study also covers cholestatic pruritus, including in patients with biliary atresia, as highlighted by Seeking Alpha. Cholestatic pruritus is itching linked to reduced bile flow. The transcript summary provided here does not include specific study findings or executive comments.

Mirum trades at $86.06, up $0.05, or 0.06%. Its trading range for the day is $81.99 to $87.92, while its 52-week range is $63.23 to $130.00. Mirum’s market capitalization—the total value of its shares—is about $5.25 billion, with 1.21 million shares traded.