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Christopher Peetz, the Chief Executive Officer of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), a $2.18 billion market cap company that has delivered an impressive 64% return over the past year, recently executed a notable transaction involving the company’s stock. On March 17, Peetz sold 27,279 shares of Mirum Pharmaceuticals at an average price of $44.21 per share, resulting in a total value of approximately $1.2 million. According to InvestingPro analysis, the company maintains strong financial health with a GOOD overall rating.
This sale followed an earlier acquisition on March 15, when Peetz exercised performance restricted stock units to acquire 50,000 shares of common stock. This transaction was recorded at no cost per share as part of a performance-based award. Following these transactions, Peetz holds a total of 138,641 shares directly and 208,570 shares indirectly through The Peetz Family Trust. The company has demonstrated robust operational performance with 80.76% revenue growth in the last twelve months.
These moves come as part of routine financial management, with the share sales helping to cover tax obligations associated with the vesting of performance stock units. With a healthy current ratio of 3.1, indicating strong liquidity, the company appears well-positioned financially. For detailed insights and Fair Value analysis, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Mirum Pharmaceuticals reported its fourth-quarter earnings, revealing a wider-than-expected adjusted loss of $1.85 per share, compared to analyst projections of a $0.30 loss per share. Despite this, the company exceeded revenue expectations, posting $99.41 million against a consensus estimate of $95.4 million, marking a 55.6% year-over-year increase. For the full year 2024, Mirum’s net product sales reached $336.4 million, up from $178.9 million in 2023, with LIVMARLI contributing $213.3 million. Looking forward, Mirum anticipates global net product sales of $420 million to $435 million in 2025 and expects to achieve positive cash flow during the year.
H.C. Wainwright recently raised the price target for Mirum to $72, maintaining a Buy rating, following the company’s announcement that it is on track to meet its 2025 sales guidance. The company is also advancing its clinical programs, including the Phase 3 EXPAND study of LIVMARLI and the Phase 2 VISTAS study of volixibat, with key milestones expected in 2025 and 2026. Meanwhile, Cantor Fitzgerald has highlighted challenges within the biotech sector, noting a 12% average year-to-date performance drop among biotech companies and significant obstacles to mergers and acquisitions. Despite these sector-wide challenges, Mirum remains focused on expanding its product reach and achieving financial milestones.
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