Miragen Therapeutics (NASDAQ:MGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $3.25 target price on the medical research company’s stock. Zacks Investment Research‘s target price points to a potential downside of 4.69% from the stock’s current price.
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 topic of several other research reports. Robert W. Baird initiated coverage on Miragen Therapeutics in a report on Friday, January 4th. They issued an “outperform” rating on the stock. Wedbush reissued an “outperform” rating and issued a $24.00 price target (up previously from $22.00) on shares of Miragen Therapeutics in a report on Monday. Finally, B. Riley started coverage on Miragen Therapeutics in a research report on Monday, December 31st. They issued a “buy” rating and a $18.50 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.63.
Shares of NASDAQ MGEN opened at $3.41 on Tuesday. Miragen Therapeutics has a 12-month low of $2.20 and a 12-month high of $8.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.71 and a current ratio of 9.71.
Miragen Therapeutics (NASDAQ:MGEN) last announced its quarterly earnings results on Wednesday, March 13th. The medical research company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $1.54 million. Miragen Therapeutics had a negative return on equity of 51.82% and a negative net margin of 389.97%. On average, equities analysts anticipate that Miragen Therapeutics will post -1.44 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Miragen Therapeutics by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 230,127 shares of the medical research company’s stock valued at $697,000 after acquiring an additional 11,541 shares during the period. Dimensional Fund Advisors LP increased its position in Miragen Therapeutics by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 216,866 shares of the medical research company’s stock valued at $657,000 after acquiring an additional 4,404 shares during the period. 683 Capital Management LLC acquired a new stake in Miragen Therapeutics in the 4th quarter valued at approximately $5,142,000. D. E. Shaw & Co. Inc. acquired a new stake in Miragen Therapeutics in the 4th quarter valued at approximately $179,000. Finally, Bank of America Corp DE increased its position in Miragen Therapeutics by 35.9% in the 4th quarter. Bank of America Corp DE now owns 33,116 shares of the medical research company’s stock valued at $100,000 after acquiring an additional 8,756 shares during the period. Hedge funds and other institutional investors own 47.59% of the company’s stock.
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.
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