Raymond James reiterates Strong Buy on Mirum stock after trial data

Raymond James has reiterated a Strong Buy rating and set a price target of $183.00 for Mirum Pharmaceuticals (NASDAQ:MIRM) shares, based on positive trial data from their lead IBAT inhibitor, maralixibat. The EXPAND study demonstrated a statistically significant reduction in pruritus in patients with cholestatic liver diseases, with improvements observed in serum bile acids and other secondary endpoints.

Mirum plans to submit a supplemental new drug application in the first half of 2027, targeting approximately 1,000 biliary atresia patients in the U.S. and 2,000 in the U.S. and Europe combined.

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