Rare Disease Stock That Wall Street Calls a 'Strong Buy' After $600 Million Convertible Bond

Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) shares rose 0.48% from the prior day to $102.04 intraday on June 17. The company’s market capitalization reached roughly $6.2 billion (about KRW 8.6 trillion), adding approximately $30 million (around KRW 40 billion) in a single day.

In May, Mirum issued $600 million of convertible notes maturing in 2032. Since then, Citi, Citizens, and H.C. Wainwright have all maintained buy or strong-buy ratings, with price targets as high as $185. According to S&P Global’s consensus of 14 analysts, the average 12-month price target stands at about $145—implying over 40% upside from current levels.

Mirum is a biotechnology company with three rare-disease therapies—including Livmarli and Colbam—targeting cholestatic liver disorders and other orphan conditions. Driven by sales growth of these high-priced specialty drugs, the company’s valuation has expanded. Its lead pipeline consists of intestinal bile acid transport (IBAT) inhibitors, and further indication expansions in pediatric rare diseases such as Alagille syndrome, along with accelerating global market penetration, are cited as key investment catalysts.