Zacks Investment Research cut shares of Miragen Therapeutics (NASDAQ:MGEN) from a buy rating to a hold rating in a report released on Saturday.
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. “
A number of other equities analysts have also weighed in on the stock. Wedbush reaffirmed a buy rating and issued a $19.00 target price on shares of Miragen Therapeutics in a research note on Wednesday. Cann restated a buy rating and set a $19.00 price objective on shares of Miragen Therapeutics in a research note on Monday, August 6th. Finally, ValuEngine upgraded shares of Miragen Therapeutics from a sell rating to a hold rating in a research note on Wednesday, June 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $16.86.
NASDAQ MGEN traded down $0.01 on Friday, reaching $5.88. The company had a trading volume of 66,025 shares, compared to its average volume of 121,926. The company has a quick ratio of 20.91, a current ratio of 18.98 and a debt-to-equity ratio of 0.15. Miragen Therapeutics has a 1-year low of $5.01 and a 1-year high of $11.64.
Miragen Therapeutics (NASDAQ:MGEN) last announced its earnings results on Tuesday, August 7th. The medical research company reported ($0.29) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.29). The firm had revenue of $2.18 million during the quarter, compared to analyst estimates of $0.83 million. Miragen Therapeutics had a negative net margin of 261.47% and a negative return on equity of 46.99%. sell-side analysts forecast that Miragen Therapeutics will post -1.12 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in Miragen Therapeutics by 77.9% in the 2nd quarter. Rhumbline Advisers now owns 22,845 shares of the medical research company’s stock valued at $146,000 after purchasing an additional 10,000 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Miragen Therapeutics by 203.8% in the 4th quarter. Wells Fargo & Company MN now owns 17,804 shares of the medical research company’s stock valued at $185,000 after purchasing an additional 11,943 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Miragen Therapeutics by 37.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,000 shares of the medical research company’s stock valued at $308,000 after purchasing an additional 13,100 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Miragen Therapeutics in the 2nd quarter valued at about $106,000. Finally, Citadel Advisors LLC acquired a new stake in Miragen Therapeutics in the 1st quarter valued at about $117,000. Institutional investors and hedge funds own 36.65% 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 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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