Despite recent gains, Mirium stocks have continued to be rated buyers

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Mirium Pharmaceuticals Inc. (NASDAQ: MIRM) shares have continued to increase and have almost tripled since mid-December after a successful meeting with the Food and Drug Administration prior to the New Drug Application with Alagille syndrome.

The stock is now trading at more than $ 23, giving the Foster City, California-based company nearly $ 530 million in market capitalization. Mirium was launched in 2018 with Series A funding of $ 120 million. The effort was led by New Enterprise Associates (NEA), followed by Deerfield Management, Frazier, Novo Holdings A / S, Pappas Capital, RiverVest Venture partners and Rock Springs Capital. The company went public in mid-July and raised $ 75 million by offering 5 million shares at $ 15. The shares have been as low as $ 6.50 since the offer.

At least one analyst believes there is still time to get involved in the Mirium party. The Fly reported that Citigroup recently raised its price target from $ 21 to $ 30 and valued the stock with a buy like four other analysts. you have it as a stop.

Pruritus is an uncomfortable sensation that causes the urge to scratch. Alagille syndrome is a genetic disorder that can affect the liver, heart, and other parts of the body. The company estimates that there are 9,000 cases in the United States and 14,000 cases in Europe.

Maralixibat has received a rare pediatric name, which means that the drug will be given priority review if the NDA is approved. According to an article in Invest Million, medical experts are excited about the drug's prospects.

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Emmanuel Gonzales, professor of pediatrics at the Hospital Bicetre in Paris, said maralixibat had shown incredible potential and the data that emerged from a study of the drug was encouraging for people with serious illnesses.

Mirium licensed Shire's Maralixibat, which was purchased from Takeda (NYSE: TAK) about a year ago. As part of the contract, Mirum also acquired the rights to volixibat, which is being investigated as a possible treatment for non-alcoholic steatohepatitis, the most severe form of non-alcoholic fatty liver disease.

At the end of the third quarter, a total of seven of the hedge funds pursued by Insider Monkey were positive for Mirium. The largest share was held by Frazier Healthcare Partners, whose position, at over 11%, is the highest of all stocks in its portfolio.

Disclosure: The author does not hold any positions in the two stocks mentioned in this article.

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