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Patrick J. Heron, a director at Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), recently made significant stock purchases, according to a recent SEC filing. Heron acquired a total of 2,298 shares of common stock over three transactions on March 10 and March 11, 2025. The shares were bought at prices ranging from $42.6642 to $43.7748, amounting to a total purchase value of $99,517. These transactions were made indirectly through Frazier Life Sciences X, L.P., where Heron is a managing member. Following these transactions, Heron holds a total of 168,123 shares in Mirum Pharmaceuticals.The director’s purchase comes as Mirum shows strong momentum, with the stock delivering a 60% return over the past year. The company, currently valued at $2.2 billion, has demonstrated impressive revenue growth of 81% and maintains a healthy liquidity position with a current ratio of 3.1. According to InvestingPro analysis, the stock is trading slightly above its Fair Value, while analysts maintain a strong buy consensus. For deeper insights into insider trading patterns and 7 additional key ProTips, check out the comprehensive Pro Research Report available on 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 anticipated $0.30 loss per share. However, the company exceeded revenue projections, bringing in $99.41 million against the consensus estimate of $95.4 million, marking a 55.6% year-over-year increase. For the full year 2024, Mirum’s total net product sales rose to $336.4 million from $178.9 million in 2023. The company’s LIVMARLI drug contributed $213.3 million to the 2024 sales, while its Bile Acid Medicines accounted for $123.1 million. Mirum has projected 2025 global net product sales between $420 million and $435 million, indicating a strong growth trajectory. In analyst updates, H.C. Wainwright raised the price target for Mirum to $72 from $66, maintaining a Buy rating, citing the company’s progress toward meeting its 2025 sales guidance. Additionally, Mirum is advancing its clinical programs, with the Phase 3 EXPAND study of LIVMARLI underway and the Phase 2 VISTAS study of volixibat expected to complete enrollment in the second half of 2025. The company concluded 2024 with $292.8 million in cash, cash equivalents, and investments, up from $286.3 million at the end of 2023.
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