Brokerages Set Miragen Therapeutics Inc (MGEN) Target Price at $20.50

Miragen Therapeutics Inc (NASDAQ:MGEN) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $20.50.

A number of research analysts recently commented on the company. Wedbush reissued a “buy” rating and issued a $24.00 target price on shares of Miragen Therapeutics in a research note on Tuesday. Zacks Investment Research cut Miragen Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, ValuEngine cut Miragen Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGEN. Atlas Venture Advisors Inc. bought a new position in Miragen Therapeutics in the fourth quarter valued at $9,522,000. 683 Capital Management LLC bought a new position in Miragen Therapeutics in the fourth quarter valued at $5,142,000. Deutsche Bank AG increased its stake in Miragen Therapeutics by 266.7% in the fourth quarter. Deutsche Bank AG now owns 190,653 shares of the medical research company’s stock valued at $577,000 after acquiring an additional 138,657 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Miragen Therapeutics in the fourth quarter valued at $179,000. Finally, BlackRock Inc. boosted its position in Miragen Therapeutics by 3.4% during the fourth quarter. BlackRock Inc. now owns 1,459,881 shares of the medical research company’s stock valued at $4,423,000 after buying an additional 48,128 shares during the period. 47.10% of the stock is currently owned by institutional investors and hedge funds.

Miragen Therapeutics stock opened at $2.78 on Monday. The firm has a market capitalization of $83.82 million, a PE ratio of -2.53 and a beta of 1.24. Miragen Therapeutics has a fifty-two week low of $2.20 and a fifty-two week high of $7.94. 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 (NASDAQ:MGEN) last released its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.03). The firm had revenue of $0.37 million during the quarter, compared to the consensus estimate of $1.35 million. Miragen Therapeutics had a negative return on equity of 71.91% and a negative net margin of 998.26%. As a group, sell-side analysts anticipate that Miragen Therapeutics will post -1.41 earnings per share for the current year.

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.

Read More: Relative Strength Index

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.