H.C. Wainwright raised its price target for Mirum Pharmaceuticals to $195 from $140 and maintained a Buy rating. The move followed positive topline results from the Phase 3 AZURE-1 study of brelovitug for chronic hepatitis delta virus (HDV), announced September 28.
Brelovitug met the trial’s primary composite endpoint, showing a virologic response and normalization of liver enzymes at 24 weeks. The results mark a step toward regulatory submission and a potential commercial launch. They could also position brelovitug as a differentiated product in the emerging HDV market.
The update follows the FDA’s approval last week of Mirum’s treatment Atebrioz.