Mirum Pharmaceuticals shares are trading higher after the company announced that the FDA approved LIVMARLI oral solution for the treatment of cholestatic pruritus in patients five years of age and older with progressive familial intrahepatic cholestasis. Also, HC Wainwright maintained a Buy rating on the stock and raised its price target from $45 to $58.
Portfolio Pulse from Benzinga Newsdesk
Mirum Pharmaceuticals' shares surged following the FDA's approval of LIVMARLI oral solution for treating cholestatic pruritus in patients aged five and older with progressive familial intrahepatic cholestasis. Additionally, HC Wainwright reaffirmed a Buy rating on MIRM and increased its price target from $45 to $58.
March 14, 2024 | 11:54 am
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POSITIVE IMPACT
Mirum Pharmaceuticals' stock is expected to experience a positive short-term impact due to the FDA's approval of LIVMARLI and HC Wainwright's upgraded price target and sustained Buy rating.
The FDA's approval of a new drug typically leads to positive investor sentiment as it opens up new revenue streams for the company. Additionally, an analyst's upgrade or positive rating, especially with a significant increase in the price target, further bolsters investor confidence and can lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100