Miragen Therapeutics’ (MGEN) “Buy” Rating Reiterated at Cann

Cann reissued their buy rating on shares of Miragen Therapeutics (NASDAQ:MGEN) in a report released on Friday. Cann currently has a $13.00 price target on the medical research company’s stock.

“MiRagen Therapeutics announced today positive new interim data from its phase I clinical trial of MRG-106 in patients with the mycosis fungoides (MF) form of cutaneous T-cell lymphoma (CTCL) will be presented on February 2, 2018, at the 10th Annual T-cell Lymphoma Forum in La Jolla, California. These positive results support MiRagen’s plans to initiate a phase II study of MRG-106 in CTCL in the second half of 2018. The data released today, along with the planned phase II trial design support our expectation that MRG-106 will be able to proceed to a registration phase II study, avoiding phase III trials.”,” Cann’s analyst commented.

Several other research firms have also recently commented on MGEN. Zacks Investment Research cut Miragen Therapeutics from a buy rating to a hold rating in a research report on Thursday, January 25th. Chardan Capital reaffirmed a buy rating and set a $29.00 price objective on shares of Miragen Therapeutics in a research report on Monday, October 16th. Wedbush reissued a buy rating and issued a $19.00 target price on shares of Miragen Therapeutics in a research report on Friday, December 1st. Finally, B. Riley initiated coverage on Miragen Therapeutics in a research report on Friday, January 5th. They issued a buy rating and a $15.50 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $16.46.

Shares of Miragen Therapeutics (NASDAQ:MGEN) opened at $8.60 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.11 and a current ratio of 7.11. Miragen Therapeutics has a 12-month low of $6.02 and a 12-month high of $18.00.

Miragen Therapeutics (NASDAQ:MGEN) last released its quarterly earnings data on Wednesday, November 8th. The medical research company reported ($0.27) EPS for the quarter, beating the 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 company had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $0.72 million. analysts anticipate that Miragen Therapeutics will post -1.35 earnings per share for the current year.

In other Miragen Therapeutics news, Director Thomas E. Hughes sold 12,000 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 44.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. BSW Wealth Partners bought a new position in shares of Miragen Therapeutics in the third quarter worth about $203,000. Russell Investments Group Ltd. bought a new position in shares of Miragen Therapeutics in the third quarter worth about $147,000. SG Americas Securities LLC bought a new position in shares of Miragen Therapeutics in the third quarter worth about $250,000. Finally, Seaward Management Limited Partnership bought a new position in shares of Miragen Therapeutics in the third quarter worth about $117,000. 22.52% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Miragen Therapeutics (NASDAQ:MGEN)

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