FOSTER CITY, Calif.—Howe Jolanda, Senior Vice President and Global Controller at Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), recently executed a significant stock transaction. On November 14, Ms. Jolanda sold 2,500 shares of the company's common stock at an average price of $47.10 per share, amounting to a total sale value of approximately $117,752.
In a separate transaction on the same day, Ms. Jolanda acquired 2,500 shares through the exercise of stock options at a price of $2.94 per share. Following these transactions, she holds 2,426 shares of Mirum Pharmaceuticals directly.
These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, providing investors with insight into insider trading activities at the company.
In other recent news, Mirum Pharmaceuticals has been making notable strides in its financial performance. The company reported a 25% quarterly increase in net sales, reaching $59.1 million. This was primarily driven by the strong sales of its drug LIVMARLI, which is used to treat Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).
In response to this robust performance, Mirum's management raised its 2024 global net product sales guidance to a range of $330 million to $335 million. This adjustment demonstrates the company's confidence in the continued success of LIVMARLI.
H.C. Wainwright, an analyst firm, has reiterated a Buy rating on Mirum Pharmaceuticals and maintained a $66 price target. This decision follows the impressive third-quarter sales results and the upward revision of the full-year sales forecast for 2024.
Additionally, Mirum has acquired MRM-3379, a new treatment candidate for Fragile X syndrome. This acquisition underscores the company's strategic focus on rare genetic diseases. The company is also actively engaging with the FDA to enroll younger patients in upcoming studies.
InvestingPro Insights
Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has been experiencing significant growth, as evidenced by the recent insider transaction and supported by data from InvestingPro. The company's revenue growth is particularly noteworthy, with a 112.14% increase over the last twelve months as of Q3 2024. This robust growth aligns with the insider's decision to exercise options and sell shares at a higher price point.
InvestingPro Tips highlight that three analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for Mirum's financial performance. This optimism is further reflected in the stock's strong performance, with a 78.07% price return over the past six months.
However, investors should note that the company is not currently profitable, with a negative operating income of $95.97 million in the last twelve months. Despite this, Mirum operates with a moderate level of debt and its liquid assets exceed short-term obligations, indicating a stable financial position.
For those interested in a deeper analysis, InvestingPro offers 7 additional tips that could provide valuable insights into Mirum Pharmaceuticals' investment potential.
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