Miragen Therapeutics (NASDAQ:MGEN) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Miragen Therapeutics (NASDAQ:MGEN) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $2.50 price target 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. Wedbush reissued a buy rating and set a $24.00 price objective on shares of Miragen Therapeutics in a research note on Tuesday, May 21st. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $16.00.

Shares of NASDAQ MGEN opened at $2.05 on Wednesday. The stock’s 50 day moving average is $2.34. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.17. Miragen Therapeutics has a 1-year low of $2.01 and a 1-year high of $7.65.

Miragen Therapeutics (NASDAQ:MGEN) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). Miragen Therapeutics had a negative return on equity of 71.91% and a negative net margin of 998.26%. The company had revenue of $0.37 million for the quarter, compared to the consensus estimate of $1.35 million. As a group, analysts predict that Miragen Therapeutics will post -1.41 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Miragen Therapeutics by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 216,866 shares of the medical research company’s stock valued at $657,000 after buying an additional 4,404 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Miragen Therapeutics by 35.9% during the fourth 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 last quarter. Rhumbline Advisers grew its stake in shares of Miragen Therapeutics by 51.4% during the fourth 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 last quarter. Geode Capital Management LLC grew its stake in shares of Miragen Therapeutics by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 230,127 shares of the medical research company’s stock valued at $697,000 after buying an additional 11,541 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in shares of Miragen Therapeutics by 19.8% during the first quarter. Motley Fool Asset Management LLC now owns 173,998 shares of the medical research company’s stock valued at $485,000 after buying an additional 28,760 shares during the last quarter. 42.81% of the stock is currently 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 miR-155 for treating various blood cancers, such as cutaneous T-cell lymphoma, adult T-cell lymphoma/leukemia, diffuse large B-cell lymphoma, and chronic lymphocytic leukemia; Remlarsen, a replacement for miR-29, a microRNA that is found at abnormally low levels in various pathological fibrotic conditions, including cutaneous, ocular, and idiopathic pulmonary fibrosis; and MRG-110, an inhibitor of miR-92, a microRNA expressed in endothelial cells for the treatment of heart failure, as well as surgical incisions in high risk populations, severe lacerations, and severe burns in the United States and Japan.

Featured Article: What is Forex?

Get a free copy of the Zacks research report on Miragen Therapeutics (MGEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.