Mar. 4 at 1:44 PM
Evercore ISI⬆️the PT on Top Pick
$MIRM to
$126 from
$101 and reiterated at an Outperform rating.
$IPSEY GSK TAK VIR
$GILD ALGS
Evercore ISI said in its note—MIRM has been one of our top '26 picks since December. It just checks all the boxes: growing base business, multiple near-term high-POS registrational readouts, clear competitive outlooks, and a real margin/FCF expansion story w/ synergistic commercial efforts in hepatology. Plus a very smart mgmt team w/ a great BD track record.
We've been surprised by how much and how quickly the stock worked (and we were equally caught off guard with the post-earnings reversion, which we increasingly believe looks overdone).
After we hosted mgmt last week, have continued to perform KOLs calls, and watch their indications evolve ...it's time to update our model. New PT =
$126/sh,
$9B target EV. Equates to a ~7x 2032 multiple and 3.1x peak sales multiple; margins get to >60%.
