Zacks Investment Research upgraded shares of Miragen Therapeutics (NASDAQ:MGEN) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $10.00 price objective 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 brokerages have also recently weighed in on MGEN. B. Riley initiated coverage on Miragen Therapeutics in a report on Friday, January 5th. They set a buy rating and a $15.50 target price on the stock. Chardan Capital restated a buy rating and set a $29.00 target price on shares of Miragen Therapeutics in a report on Monday, October 16th. Finally, Wedbush restated a buy rating and set a $19.00 target price on shares of Miragen Therapeutics in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $16.58.
Shares of Miragen Therapeutics (NASDAQ:MGEN) traded up $0.35 during trading on Tuesday, hitting $8.91. The company had a trading volume of 140,851 shares, compared to its average volume of 269,717. The company has a current ratio of 7.11, a quick ratio of 7.11 and a debt-to-equity ratio of 0.04. Miragen Therapeutics has a 1 year low of $6.02 and a 1 year high of $18.00. The stock 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 announced its quarterly earnings results on Wednesday, November 8th. The medical research company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $0.72 million. sell-side analysts anticipate that Miragen Therapeutics will post -1.26 earnings per share for the current fiscal year.
In other Miragen Therapeutics 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 value of $96,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 44.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Seaward Management Limited Partnership purchased a new stake in shares of Miragen Therapeutics during the third quarter worth $117,000. SG Americas Securities LLC purchased a new stake in shares of Miragen Therapeutics during the third quarter worth $250,000. Russell Investments Group Ltd. purchased a new stake in shares of Miragen Therapeutics during the third quarter worth $147,000. Finally, BSW Wealth Partners purchased a new stake in shares of Miragen Therapeutics during the third quarter worth $203,000. 22.64% of the stock is currently owned by institutional investors and hedge funds.
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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