Update shared on 27 Nov 2025
Fair value Increased 2.22%Mirum Pharmaceuticals' analyst price target has increased from $86.09 to $87.99. This reflects analysts' optimism about continued strong sales, upcoming clinical milestones, and anticipated profitability improvements.
Analyst Commentary
Recent updates from bullish analysts reflect heightened confidence in Mirum Pharmaceuticals' growth trajectory. The most recent price target upgrades, along with consistently favorable outlooks, highlight both existing strengths and future catalysts for the company. However, some measured observations remain regarding the timing and execution of key milestones.
Bullish Takeaways- Bullish analysts point to Livmarli's repeated sales outperformance as a core driver for raising price targets and projecting ongoing commercial momentum.
- Multiple late-stage clinical readouts, particularly for volixibat in primary sclerosing cholangitis and primary biliary cholangitis, are expected to provide significant value inflection points as early as next year.
- Mirum's stock has delivered robust year-to-date gains, further supported by analyst expectations of a clear path to profitability and a pipeline with transformative potential.
- Some analysts have meaningfully increased revenue forecasts for Mirum, anticipating sustained execution through product launches and clinical trial milestones.
- Bearish analysts note that key data milestones, such as Phase 2b results for volixibat, are not expected until 2026. This could delay additional upside to valuation if progress stalls or timelines slip.
- There is cautious attention to execution risk around enrollment and completion of clinical trials, especially in complex liver indications.
- Future growth is heavily dependent on successful readouts and regulatory progress. If delayed, this could temper near-term enthusiasm and pressure the current higher valuation.
What's in the News
- Mirum will present new data from its LIVMARLI and Volixibat clinical programs at the AASLD Liver Meeting in November 2025. The presentation will include key VANTAGE trial results for primary biliary cholangitis and real-world evidence updates (Key Developments).
- The company raised its full-year 2025 revenue guidance to the upper end of its previous range, now expecting $500 million to $510 million in revenues (Key Developments).
- Enrollment has been completed in the Phase 2b VISTAS study of volixibat for primary sclerosing cholangitis, with topline results anticipated in Q2 2026. Additional enrollment milestones are expected in 2026 for the VANTAGE study targeting primary biliary cholangitis (Key Developments).
Valuation Changes
- Consensus Analyst Price Target has risen slightly from $86.09 to $87.99. This reflects a modest increase in expected upside.
- Discount Rate has edged up marginally from 7.13% to 7.17%. This indicates a slight increase in perceived risk or cost of capital.
- Revenue Growth projection has decreased very slightly from 20.25% to 20.10%. This suggests analysts foresee more moderate expansion.
- Net Profit Margin estimate has increased from 14.89% to 17.01%. This highlights anticipated improvements in profitability.
- Future P/E ratio forecast has fallen from 53.74x to 45.96x. This implies expectations of stronger earnings relative to the stock price.
Disclaimer
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