Brokerages Anticipate Miragen Therapeutics, Inc. (MGEN) Will Announce Quarterly Sales of $1.22 Million

Wall Street brokerages expect Miragen Therapeutics, Inc. (NASDAQ:MGEN) to report sales of $1.22 million for the current quarter, Zacks reports. Two analysts have made estimates for Miragen Therapeutics’ earnings, with estimates ranging from $800,000.00 to $1.63 million. Miragen Therapeutics reported sales of $760,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 60.5%. The firm is scheduled to announce its next quarterly earnings report on Friday, March 23rd.

According to Zacks, analysts expect that Miragen Therapeutics will report full year sales of $1.22 million for the current year, with estimates ranging from $3.64 million to $4.60 million. For the next year, analysts anticipate that the business will report sales of $3.42 million per share, with estimates ranging from $1.50 million to $6.52 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Miragen Therapeutics.

Miragen Therapeutics (NASDAQ:MGEN) last posted its quarterly earnings results on Wednesday, November 8th. The medical research company reported ($0.27) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.12. Miragen Therapeutics had a negative return on equity of 80.31% and a negative net margin of 720.38%. The company had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $0.72 million.

MGEN has been the topic of a number of research reports. Zacks Investment Research downgraded Miragen Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday. Chardan Capital reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Miragen Therapeutics in a research note on Monday, October 16th. Wedbush reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Miragen Therapeutics in a research note on Friday, December 1st. Finally, Cann initiated coverage on Miragen Therapeutics in a research note on Friday, January 12th. They issued an “outperform” rating and a $13.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $16.46.

Miragen Therapeutics (NASDAQ MGEN) opened at $8.58 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.11 and a quick ratio of 7.11. Miragen Therapeutics has a twelve month low of $6.02 and a twelve month high of $18.00.

In other news, Director Thomas E. Hughes sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was 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 SEC, which is accessible through this link. Insiders own 44.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Miragen Therapeutics during the 3rd quarter valued at approximately $250,000. BSW Wealth Partners bought a new position in shares of Miragen Therapeutics during the 3rd quarter valued at approximately $203,000. Russell Investments Group Ltd. bought a new position in shares of Miragen Therapeutics during the 3rd quarter valued at approximately $147,000. Finally, Seaward Management Limited Partnership bought a new position in shares of Miragen Therapeutics during the 3rd quarter valued at approximately $117,000. 22.64% of the stock is currently owned by hedge funds and other institutional investors.

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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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