Mirum Pharmaceuticals (NASDAQ: MIRM) Soars on Positive Volixibat Clinical Trial Results

Font: Financial Modeling Prep  • May 05, 2026

• Mirum Pharmaceuticals (NASDAQ: MIRM)'s investigational drug volixibat met its primary endpoint in a mid-stage study for Primary Sclerosing Cholangitis (PSC).
• The positive clinical trial results led to a significant stock price increase of 9.59%, reaching a new 52-week high of $110.49.
• Analyst firm Morgan Stanley raised its price target for Mirum Pharmaceuticals to $140 per share, maintaining an "Overweight" rating, signaling strong analyst confidence.

Mirum Pharmaceuticals (NASDAQ: MIRM) is a biopharmaceutical company that develops new treatments for rare liver diseases. It is currently in the spotlight for its investigational drug, volixibat. The drug is being tested for its ability to treat conditions such as Primary Sclerosing Cholangitis (PSC) and Hepatitis Delta.

As highlighted by Reuters, Mirum's drug volixibat met its main goal in a mid-stage study. The VISTAS Phase 2b study showed the drug significantly reduced severe itching, known as pruritus, in 158 patients with PSC. This is a notable development for a disease that is historically difficult to treat.

Following the news, Mirum's stock price is $105.79, an increase of 9.59% for the day. The stock reached a new 52-week high of $110.49, with its 52-week low at $40.00. The company's market capitalization, or the total value of all its shares, is now approximately $5.31 billion.

In response to these developments, analyst firm Morgan Stanley raised its price target for Mirum Pharmaceuticals on May 5, 2026. The firm now projects a price of $140 per share, an increase from its previous target of $130. This suggests analysts see more room for the stock's price to grow.

Morgan Stanley also maintained its "Overweight" rating on the stock. An "Overweight" rating indicates that the analyst expects the stock to perform better than other stocks in the same industry. This rating reinforces the firm's positive view on Mirum Pharmaceuticals' future performance based on its current price of $105.79.