Zacks Investment Research upgraded shares of Miragen Therapeutics (NASDAQ:MGEN) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The firm currently has $2.50 target price 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. “
MGEN has been the subject of a number of other reports. Wedbush reiterated a buy rating and issued a $24.00 price objective on shares of Miragen Therapeutics in a report on Tuesday, May 21st. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Miragen Therapeutics has a consensus rating of Buy and an average price target of $16.00.
NASDAQ:MGEN traded down $0.07 during trading hours on Wednesday, reaching $2.06. The company’s stock had a trading volume of 67,600 shares, compared to its average volume of 206,064. The company has a market cap of $65.88 million, a P/E ratio of -1.87 and a beta of 1.16. Miragen Therapeutics has a one year low of $2.01 and a one year high of $7.65. The business has a 50-day moving average of $2.35. 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 issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). The business 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%. Sell-side analysts forecast that Miragen Therapeutics will post -1.41 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in Miragen Therapeutics by 35.9% during the 4th quarter. Bank of America Corp DE now owns 33,116 shares of the medical research company’s stock worth $100,000 after acquiring an additional 8,756 shares during the last quarter. Rhumbline Advisers lifted its position in Miragen Therapeutics by 51.4% during the 4th quarter. Rhumbline Advisers now owns 33,350 shares of the medical research company’s stock worth $101,000 after acquiring an additional 11,321 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Miragen Therapeutics during the 4th quarter worth $179,000. Bank of New York Mellon Corp lifted its position in Miragen Therapeutics by 59.1% during the 4th quarter. Bank of New York Mellon Corp now owns 99,844 shares of the medical research company’s stock worth $302,000 after acquiring an additional 37,101 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its position in Miragen Therapeutics by 19.8% during the 1st quarter. Motley Fool Asset Management LLC now owns 173,998 shares of the medical research company’s stock worth $485,000 after acquiring an additional 28,760 shares during the last quarter. Hedge funds and other institutional investors own 42.81% of the company’s stock.
Miragen Therapeutics Company Profile
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.
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