Miragen Therapeutics (NASDAQ:MGEN) issued its quarterly earnings results on Wednesday. The medical research company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.02), Morningstar.com reports. The business had revenue of $0.48 million during the quarter, compared to analyst estimates of $1.54 million. Miragen Therapeutics had a negative net margin of 316.11% and a negative return on equity of 48.03%.
Shares of NASDAQ MGEN opened at $2.72 on Friday. Miragen Therapeutics has a 52-week low of $2.20 and a 52-week high of $8.20. The firm has a market cap of $83.58 million, a PE ratio of -1.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.09 and a quick ratio of 11.09.
MGEN has been the subject of several analyst reports. B. Riley initiated coverage on Miragen Therapeutics in a report on Monday, December 31st. They issued a “buy” rating and a $18.50 price target for the company. Robert W. Baird initiated coverage on Miragen Therapeutics in a report on Friday, January 4th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research upgraded Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a report on Friday, January 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Miragen Therapeutics presently has a consensus rating of “Buy” and an average price target of $14.88.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Miragen Therapeutics by 35.9% during the 4th quarter. Bank of America Corp DE now owns 33,116 shares of the medical research company’s stock valued at $100,000 after buying an additional 8,756 shares during the period. Rhumbline Advisers grew its stake in shares of Miragen Therapeutics by 51.4% during the 4th quarter. Rhumbline Advisers now owns 33,350 shares of the medical research company’s stock valued at $101,000 after buying an additional 11,321 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Miragen Therapeutics during the 4th quarter valued at $179,000. SG Americas Securities LLC purchased a new stake in shares of Miragen Therapeutics during the 3rd quarter valued at $517,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Miragen Therapeutics by 59.1% during the 4th quarter. Bank of New York Mellon Corp now owns 99,844 shares of the medical research company’s stock valued at $302,000 after buying an additional 37,101 shares during the period. 47.59% of the stock is owned by institutional investors.
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About Miragen Therapeutics
Miragen Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in discovering and developing proprietary RNA-targeted therapies with a specific focus on microRNAs and their role in diseases where there is a high unmet medical need. Its three lead product candidates include cobomarsen, an inhibitor of microRNA-155, which is in Phase I clinical trial for treating cutaneous T-cell lymphoma; MRG-201, a replacement for microRNA-29, which is in Phase I clinical trial that is found at low levels in various pathological fibrotic conditions, including cutaneous, cardiac, renal, hepatic, and pulmonary fibrosis, as well as systemic sclerosis; and MRG-110, an inhibitor of microRNA-92 that is expressed in endothelial cells and has shown to accelerate the formation of new blood vessels in preclinical models of heart failure, peripheral ischemia, and dermal wounding in the United States and Japan.
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