Miragen Therapeutics (NASDAQ:MGEN) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.
A number of other equities research analysts also recently issued reports on MGEN. Wedbush reissued an “outperform” rating and set a $19.00 price target on shares of Miragen Therapeutics in a research report on Monday, October 8th. Zacks Investment Research raised Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research report on Wednesday, July 18th. Finally, Cann reissued a “buy” rating and set a $19.00 price target (up previously from $13.00) on shares of Miragen Therapeutics in a research report on Monday, July 9th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.86.
Shares of NASDAQ:MGEN opened at $4.50 on Thursday. The firm has a market capitalization of $170.73 million, a PE ratio of -3.26 and a beta of 1.33. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.15. Miragen Therapeutics has a 52 week low of $4.38 and a 52 week high of $10.70.
Miragen Therapeutics (NASDAQ:MGEN) last posted its quarterly earnings results on Tuesday, August 7th. The medical research company reported ($0.29) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.29). Miragen Therapeutics had a negative return on equity of 46.99% and a negative net margin of 261.47%. The firm had revenue of $2.18 million during the quarter, compared to the consensus estimate of $0.83 million. On average, research analysts anticipate that Miragen Therapeutics will post -1.12 earnings per share for the current fiscal year.
In other news, Director Thomas E. Hughes purchased 10,000 shares of the stock in a transaction on Thursday, October 11th. The stock was purchased at an average price of $4.77 per share, with a total value of $47,700.00. Following the completion of the transaction, the director now owns 12,827 shares in the company, valued at $61,184.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.90% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Miragen Therapeutics by 72.1% in the second quarter. BlackRock Inc. now owns 1,392,476 shares of the medical research company’s stock worth $8,927,000 after buying an additional 583,156 shares during the period. Opaleye Management Inc. boosted its position in shares of Miragen Therapeutics by 13.2% in the second quarter. Opaleye Management Inc. now owns 1,200,000 shares of the medical research company’s stock worth $7,692,000 after buying an additional 140,000 shares during the period. Northern Trust Corp boosted its position in shares of Miragen Therapeutics by 60.3% in the second quarter. Northern Trust Corp now owns 274,612 shares of the medical research company’s stock worth $1,760,000 after buying an additional 103,348 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Miragen Therapeutics by 151.9% in the first quarter. Dimensional Fund Advisors LP now owns 164,447 shares of the medical research company’s stock worth $1,153,000 after buying an additional 99,163 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Miragen Therapeutics by 102.7% in the second quarter. Millennium Management LLC now owns 118,175 shares of the medical research company’s stock worth $758,000 after buying an additional 59,870 shares during the period. 37.03% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Story: Short Selling Stocks, A Beginner’s Guide
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Miragen Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Miragen Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.