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Patrick J. Heron, a director at Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), a biopharmaceutical company with a market capitalization of $2.1 billion that has delivered an impressive 54% return over the past year, recently acquired shares of the company in two separate transactions. On March 6, Heron purchased 1,335 shares at a weighted average price of $43.8928, and on March 7, he bought an additional 580 shares at a weighted average price of $43.2145. These transactions, totaling $83,661, were made through Frazier Life Sciences X, L.P., with Heron being one of the managing members. Following these acquisitions, Heron holds a total of 165,825 shares indirectly. According to InvestingPro, analysts maintain a strong buy consensus with price targets ranging from $54 to $74. InvestingPro analysis suggests the stock is currently overvalued, with additional insights available through their comprehensive Pro Research Report, which offers deep-dive analysis of 1,400+ US stocks.
In other recent news, Mirum Pharmaceuticals reported fourth-quarter earnings that fell short of analyst expectations, with an adjusted loss of $1.85 per share compared to the forecasted loss of $0.30 per share. Despite this earnings miss, the company reported a revenue of $99.41 million, surpassing 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 were $336.4 million, up from $178.9 million in 2023. The company expects global net product sales to range between $420 million and $435 million in 2025, indicating continued growth.
In analyst updates, H.C. Wainwright raised Mirum’s stock target to $72 while maintaining a Buy rating, following the company’s announcement of being on track to meet its 2025 global net product sales guidance. Mirum’s LIVMARLI drug generated $213.3 million in 2024 sales, with net sales revenue for the fourth quarter reaching $64.1 million, showing an 8.4% increase from the previous quarter. The company is also seeing growth in its bile acid product portfolio, particularly after FDA approval for new indications. Additionally, Mirum is advancing its clinical trials, with significant milestones expected from its VISTAS study of volixibat, with enrollment completion anticipated in the second half of 2025.
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