Mirum Pharmaceuticals, Inc. granted inducement awards to 8 new employees on June 10, 2026, consisting of non-qualified stock options to purchase 10,100 shares of common stock and 13,350 restricted stock units (RSUs). The awards were approved by the Compensation Committee of Mirum's Board of Directors as an employment inducement material to the new employees, in accordance with Nasdaq Listing Rule 5635(c)(4). The grants were issued under Mirum's 2020 Inducement Plan.

Award Details

Each stock option carries an exercise price of $94.00 per share, matching the closing price of Mirum's common stock on June 10, 2026. The options will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date. The remaining shares will vest monthly over the subsequent 36 months, contingent on the new employees' continued service with Mirum through the applicable vesting dates.

The RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the applicable initial vesting date. These vesting schedules are also subject to the new employees' continued service relationship with Mirum through the applicable vesting dates. All awards are subject to the terms and conditions of Mirum's 2020 Inducement Plan and the respective award agreements.

Mirum Pharmaceuticals focuses on rare liver and rare genetic diseases, with a commercial portfolio including LIVMARLI, CHOLBAM, and CTEXLI. The company's clinical-stage pipeline features volixibat, brelovitug, zilurgisertib, and MRM-3379.

Morgan Stanley analyst Michael Ulz has maintained an Overweight rating on Mirum Pharmaceuticals (NASDAQ: MIRM) while raising the price target to $150 from the previous $140. The adjustment signals a strengthened outlook for the pharmaceutical company's stock performance.

The revised price target of $150 represents an increase from the prior estimate of $140. This change underscores the analyst's positive stance on Mirum Pharmaceuticals' future growth trajectory.

Rating and Target Details

The following table outlines the updated ratings and price targets for Mirum Pharmaceuticals:

The Overweight rating suggests that the stock is expected to outperform the broader market or its sector peers over the specified period. The increase in the price target indicates a revised valuation based on the company's current fundamentals and market conditions.