Aug. 8 at 5:47 PM
Citizens y'day⬆️
$MIRM's PT to
$81 from
$79 and reiterated at a Market Outperform.
$IPSEY $ABBV $TEVA $VTRS $SNY NVS
Citizens said, "Livmarli and bile acid sales continue to exceed expectations and management once again raised its 2025 guidance to
$490M-
$510M, representing 48% Y/Y growth at the midpoint.
Management highlighted that strong 2Q U.S. Livmarli sales of
$57M were driven by continued strong patient demand across both indications, with nearly 50% penetration in ALGS. The label expansion to PFIC has increased awareness, with management observing a higher-than-expected number of patients.
Positively, persistence on Livmarli in ALGS remains strong, at ~70-75% in the first year with improvement over time.
The single tablet formulation approval in June is expected to contribute to the positive dynamic moving forward.
Given the strong dynamics, we raise our 2025 revenue estimate to
$514M (from
$448M).
Citizens went on to say:
