Procore signs multi-year strategic collaboration agreement with AWS
Patrick J. Heron, a director at Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), recently acquired shares of the company, according to a recent SEC filing. The biopharmaceutical company, currently valued at $2.18 billion, has demonstrated impressive performance with revenue growth of 81% and maintains a strong financial position with a current ratio of 3.1, according to InvestingPro data. On March 14, Heron purchased 528 shares at a weighted average price of approximately $44.11 per share, with prices ranging from $44.00 to $44.15. This transaction was followed by an additional purchase of 21 shares on March 17, at a weighted average price of $43.93, with prices ranging from $43.925 to $43.945. The total value of these transactions amounted to $24,214. These shares are held indirectly by Frazier Life Sciences X, L.P., where Heron holds a managerial position. The insider purchase comes as analysts maintain a Strong Buy consensus on the stock, with price targets ranging from $54 to $74. For deeper insights into MIRM’s valuation and growth prospects, including 5 additional ProTips and comprehensive financial analysis, visit InvestingPro.
In other recent news, Mirum Pharmaceuticals reported fourth-quarter earnings that did not meet analyst expectations, with an adjusted loss of $1.85 per share compared to the forecasted $0.30 loss per share. Despite this, the company achieved revenue of $99.41 million, exceeding the consensus estimate of $95.4 million and marking a 55.6% increase year-over-year. For the full year 2024, Mirum’s total net product sales reached $336.4 million, up from $178.9 million in 2023. The company has projected 2025 global net product sales between $420 million to $435 million, indicating continued growth.
Additionally, H.C. Wainwright raised Mirum’s stock target to $72 while maintaining a Buy rating, supported by the company’s progress toward meeting its 2025 global net product sales guidance. Mirum’s LIVMARLI drug contributed significantly to its revenue, with $213.3 million in 2024 sales, and the company expects further growth in its bile acid product portfolio. The company is advancing its clinical trials, including the Phase 3 EXPAND study of LIVMARLI and the Phase 2 VISTAS study of volixibat, with key milestones anticipated in the coming years. Mirum ended 2024 with $292.8 million in cash, cash equivalents, and investments, reflecting a stable financial position.
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