Zacks Investment Research upgraded shares of Miragen Therapeutics (NASDAQ:MGEN) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $3.25 target price 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. “
Several other research analysts also recently commented on the company. B. Riley started coverage on Miragen Therapeutics in a research note on Monday, December 31st. They issued a buy rating and a $18.50 price objective for the company. Robert W. Baird started coverage on Miragen Therapeutics in a research note on Friday, January 4th. They issued an outperform rating for the company. Finally, Wedbush reaffirmed an outperform rating and issued a $24.00 target price (up from $22.00) on shares of Miragen Therapeutics in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Miragen Therapeutics currently has an average rating of Buy and an average price target of $15.63.
NASDAQ MGEN opened at $3.32 on Tuesday. Miragen Therapeutics has a one year low of $2.20 and a one year high of $8.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.71 and a quick ratio of 9.71. The firm has a market capitalization of $88.13 million, a P/E ratio of -3.02 and a beta of 1.21.
Miragen Therapeutics (NASDAQ:MGEN) last posted its quarterly earnings data on Wednesday, March 13th. The medical research company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.02). Miragen Therapeutics had a negative net margin of 389.97% and a negative return on equity of 51.82%. The firm had revenue of $0.48 million during the quarter, compared to analyst estimates of $1.54 million. On average, sell-side analysts forecast that Miragen Therapeutics will post -1.45 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of MGEN. Northern Trust Corp increased its stake in shares of Miragen Therapeutics by 60.3% in the 2nd quarter. Northern Trust Corp now owns 274,612 shares of the medical research company’s stock worth $1,760,000 after acquiring an additional 103,348 shares during the last quarter. SG Americas Securities LLC purchased a new position in Miragen Therapeutics during the 3rd quarter valued at about $517,000. BlackRock Inc. boosted its holdings in Miragen Therapeutics by 1.4% during the 3rd quarter. BlackRock Inc. now owns 1,411,753 shares of the medical research company’s stock valued at $7,878,000 after acquiring an additional 19,277 shares during the period. BSW Wealth Partners boosted its holdings in Miragen Therapeutics by 731.8% during the 3rd quarter. BSW Wealth Partners now owns 184,959 shares of the medical research company’s stock valued at $9,294,000 after acquiring an additional 162,723 shares during the period. Finally, Opaleye Management Inc. boosted its holdings in Miragen Therapeutics by 16.3% during the 3rd quarter. Opaleye Management Inc. now owns 1,395,700 shares of the medical research company’s stock valued at $7,788,000 after acquiring an additional 195,700 shares during the period. 47.59% of the stock is owned by institutional investors and hedge funds.
Miragen Therapeutics Company Profile
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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