Zacks Investment Research upgraded shares of Miragen Therapeutics (NASDAQ:MGEN) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The firm currently has $10.00 price target on the medical research company’s stock.
According to Zacks, “Miragen Therapeutics, Inc. is a biopharmaceutical company. It develops microRNA biology, oligonucleotide chemistry, drugs and therapies for cancer, pathologic fibrosis, neuro-inflammatory and cardiovascular diseases. Miragen Therapeutics, Inc., formerly known as Signal Genetics, is headquartered in Boulder, Colorado. “
MGEN has been the topic of several other reports. Chardan Capital reissued a buy rating and set a $29.00 price target on shares of Miragen Therapeutics in a report on Monday, October 16th. Wedbush reissued a buy rating and set a $19.00 price target on shares of Miragen Therapeutics in a report on Friday, December 1st. Finally, B. Riley started coverage on shares of Miragen Therapeutics in a report on Friday, January 5th. They set a buy rating and a $15.50 price target for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $16.58.
Miragen Therapeutics (MGEN) traded up $0.35 during trading hours on Tuesday, reaching $8.91. 140,851 shares of the company were exchanged, compared to its average volume of 269,717. Miragen Therapeutics has a 1-year low of $6.02 and a 1-year high of $18.00. The company has a quick ratio of 7.11, a current ratio of 7.11 and a debt-to-equity ratio of 0.04. The firm has a market cap of $190.97, a price-to-earnings ratio of 59.40 and a beta of 1.91.
Miragen Therapeutics (NASDAQ:MGEN) last posted its quarterly earnings results on Wednesday, November 8th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.12. The company had revenue of $1.63 million for the quarter, compared to analyst estimates of $0.72 million. Miragen Therapeutics had a negative net margin of 720.38% and a negative return on equity of 80.31%. equities analysts anticipate that Miragen Therapeutics will post -1.26 EPS for the current fiscal year.
In related news, Director Thomas E. Hughes sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $96,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 44.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Seaward Management Limited Partnership acquired a new position in shares of Miragen Therapeutics in the third quarter valued at approximately $117,000. Russell Investments Group Ltd. acquired a new position in shares of Miragen Therapeutics in the third quarter valued at approximately $147,000. BSW Wealth Partners acquired a new position in shares of Miragen Therapeutics in the third quarter valued at approximately $203,000. Finally, SG Americas Securities LLC acquired a new position in shares of Miragen Therapeutics in the third quarter valued at approximately $250,000. Hedge funds and other institutional investors own 22.64% of the company’s stock.
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About Miragen Therapeutics
Signal Genetics, Inc is a commercial stage, molecular genetic diagnostic company. The Company is focused on providing diagnostic services that help physicians to make decisions concerning the care of cancer patients. The Company’s diagnostic service is the Myeloma Prognostic Risk Signature (MyPRS) test.
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