Mirum Pharmaceuticals

MIRM · NASDAQ

$85.07+$2.83 (+3.44%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $82.24

MIRM analyst rating

BuyConsensus of 15 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy15
Hold0
Underperform0
Sell0

12-month price target · 16 analysts

Average $151.43 (+78.0% upside)

Low: $127.26
Now: $85.07
High: $204.75

Upgrades and downgrades

The latest rating actions, newest first

MIRM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Stifel	Oct 15, 2026	Maintains	Buy	$136.00 → $156.00	36%
Evercore ISI Group	Oct 13, 2026	Maintains	Outperform	$135.00 → $146.00	42%
Morgan Stanley	Oct 13, 2026	Maintains	Overweight	$137.00 → $152.00	43%
Citigroup	Oct 12, 2026	Maintains	Buy	$160.00 → $184.00	42%
HC Wainwright & Co.	Oct 12, 2026	Maintains	Buy	$195.00 → $200.00	43%
RBC Capital	Oct 8, 2026	Maintains	Outperform	$135.00 → $155.00	44%
Citigroup	Sep 29, 2026	Maintains	Buy	$145.00 → $160.00	42%
Baird	Sep 29, 2026	Maintains	Outperform	$123.00 → $130.00	45%
HC Wainwright & Co.	Sep 28, 2026	Maintains	Buy	$140.00 → $195.00	43%
Citizens	Aug 27, 2026	Maintains	Market Outperform	$137.00	47%

The case for and against

Updated Oct 21, 2026

Bull case

Mirum Pharmaceuticals is supported by a strengthened growth thesis driven by multiple de-risked clinical and regulatory wins, including the September 25 approval of Atebrioz in FOP and positive Phase 3 AZURE-1 data in HDV. The company’s brelovitug program looks especially compelling because both doses beat the composite endpoint at Week 24 with clean safety, while its commercial potential is amplified by a large, underserved HDV market and management’s estimate of more than $750M in peak revenue potential. With Livmarli’s EXPAND opportunity modeled at about $500MM, HDV gross revenue opportunity around $1.1B, and a near-term path to cash-flow positivity, the base business and pipeline together support a compelling long-term setup.

Bear case

Mirum Pharmaceuticals is exposed to substantial clinical, regulatory, and commercial uncertainty, with additional programs in BA, PSC, and PBC still needing positive readouts before approval can even be sought. It faces an uncharted regulatory path in BA and PSC, while volixibat’s novel pruritus-based path in PBC and competition from Bylvay in ALGS and PFIC could pressure Livmarli sales and limit uptake. Financially, the company may continue to post net losses as it advances the late-stage pipeline, and any need to raise capital could dilute shareholders, undermining the roughly $18.95B rNPV thesis through 2033 and the $438M cash position.

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