MIRM Should I Buy

Citizens analyst Jonathan Wolleben raised the firm's price target on Mirum Pharmaceuticals to $146 from $140 and keeps an Outperform rating on the shares. Mirum's acquisition of zilurgisertib increasingly looks like a potentially attractive late-stage deal, as newly disclosed data suggest meaningful clinical benefit in fibrodysplasia ossificans progressiva despite the Phase 2b trial missing its primary endpoint, supporting approval potential, a meaningful commercial opportunity, and a fit with the company's existing infrastructure that could make the asset accretive relatively quickly, the analyst tells investors in a research note.