Morgan Stanley Raises Mirum (MIRM) PT to $95 on Strategic Bluejay Acquisition, Brelovitug Pipeline Addition

Mirum Pharmaceuticals Inc. (NASDAQ:MIRM) is one of the high short interest stocks to buy right now. On December 9, Morgan Stanley analyst Michael Ulz raised the firm’s price target on Mirum Pharmaceuticals to $95 from $81 with an Overweight rating on the shares. Ulz informed investors that the acquisition of Bluejay is significant because it adds the drug brelovitug to the pipeline. Brelovitug has shown promising activity and tolerability in treating hepatitis delta virus and will expand the company’s rare liver disease pipeline while also creating valuable synergies.

In its Q3 2025 earnings report, Mirum Pharmaceuticals’ quarterly revenue totaled $133 million, which marked a ~50% year-over-year increase. This strong performance highlighted the operating leverage in its commercial model, resulting in a positive net income of ~$3 million for the quarter. The primary driver of revenue was the company’s product sales. LIVMARLI net product sales totaled $92 million for the quarter, broken down into $64 million in US sales and $28 million in International sales. Sales of Bile Acid Medicines contributed an additional $41 million in net product sales.

Morgan Stanley Raises Mirum (MIRM) PT to $95 on Strategic Bluejay Acquisition, Brelovitug Pipeline Addition

Despite the strong performance, the company faces some commercial variability, particularly with LIVMARLI’s international sales due to periodic large orders from distributors. Management anticipates a sequential decline in revenue for Q4 and does not expect additional sales to its partner, Takeda, in Japan during that quarter, which had contributed to the Q3 revenue. The company is also facing uncertainty regarding the appropriate pricing strategy for its investigational drug, volixibat, as it continues to analyze market dynamics, considering analogs from other PBC treatments.

Mirum Pharmaceuticals Inc. (NASDAQ:MIRM) is a biopharmaceutical company that develops and commercializes novel therapies for debilitating rare and orphan diseases.

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Disclosure: None. This article is originally published at Insider Monkey.