Director Patrick J. Heron has expanded his exposure to Mirum Pharmaceuticals Inc (NASDAQ: MIRM) through both a direct cash purchase and an indirect acquisition linked to a corporate transaction.
According to a Form 4 filed with the Securities and Exchange Commission, on January 23, 2026 Heron purchased 131,425 shares of Mirum common stock at $68.48 per share, for a total transaction value of $8,999,984.
The filing also indicates that Heron indirectly acquired 159,277 shares of Mirum through Frazier Life Sciences X, L.P. in connection with the merger of Bluejay Therapeutics, Inc. The price recorded for those shares on the merger's effective date was $94.29 per share.
Following the two transactions, Heron's direct holdings in Mirum stand at 5,703 shares, while his indirect holdings total 4,025,922 shares of the company's common stock.
Mirum has meanwhile released preliminary, unaudited results for 2025 that show net product sales of approximately $520 million, a figure that exceeds the upper end of the company’s prior guidance. For 2026 the company forecasts global net product sales in a range of $630 million to $650 million, which implies potential growth of as much as 25% year-over-year based on the midpoint of the previously reported 2025 sales figure.
In a strategic move to broaden its rare disease portfolio, Mirum completed the acquisition of Bluejay Therapeutics. The transaction brings brelovitug into Mirum’s pipeline; the asset is a late-stage treatment for chronic hepatitis delta virus and is currently being evaluated in the global AZURE Phase 3 program.
Analysts have responded to Mirum’s sales momentum and pipeline expansion with upward adjustments to price targets and favorable ratings. H.C. Wainwright raised its price target to $130 while maintaining a Buy rating and noted 2026 as a pivotal year for Mirum's drug candidate volixibat. Citizens reiterated a Market Outperform rating and set a $140 price target, highlighting strong sales of Livmarli and the broader bile acid portfolio along with anticipated growth. Baird also increased its price target to $95, citing Mirum’s sales performance that exceeded expectations.
The combination of insider purchases, a completed acquisition adding a late-stage rare disease asset, preliminary 2025 sales above guidance, and higher analyst price targets frames the current development set for Mirum as it moves into 2026 with updated sales guidance and an expanded product pipeline.