Baird Lifts Mirum Pharmaceuticals, Inc. (MIRM) Price Target on Bluejay Therapeutics Acquisition

Mirum Pharmaceuticals Inc. (NASDAQ:MIRM) is one of the champion biotech stocks to bargain according to Wall Street analysts. On December 8, Baird reiterated its Outperform standing connected Mirum Pharmaceuticals Inc. (NASDAQ:MIRM) and raised the terms people to $88 from $80.

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The terms people hike follows the company’s statement to get Bluejay Therapeutics for $620 cardinal successful cash. With the acquisition, the institution gains worldwide rights to brelovitug, a monoclonal antibody nether improvement for the attraction of chronic hepatitis D, a uncommon and assertive liver condition.

“This acquisition fits squarely with what we bash best—advancing high-impact medicines for patients with uncommon diseases done disciplined development, regulatory innovation, and commercialized excellence,” Mirum CEO Chris Peetz said successful the release.

The acquisition of Brelovitug comes connected the heels of 100% HDV RNA effect successful Phase 2 objective trials, with Phase 3 results expected successful the 2nd fractional of adjacent year.

Analysts astatine Morgan Stanley person besides reiterated an Overweight standing connected Mirum Pharmaceuticals with an $81 terms target. The concern slope views the woody arsenic a astute strategical determination for Mirum, saying it bolsters the company’s presumption successful uncommon liver diseases portion offering wide synergies with its existent commercialized setup. The steadfast besides projects that the enlarged pipeline could make much than $4 cardinal successful highest sales.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) is simply a biopharmaceutical institution focused connected processing and delivering treatments for uncommon and debilitating liver diseases, particularly those affecting children, by transforming technological discoveries into therapies specified arsenic their cardinal cause LIVMARLI (maralixibat) for cholestatic pruritus successful Alagille syndrome (ALGS) and Progressive Familial Intrahepatic Cholestasis (PFIC).

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.