Signal Genetics (MGEN) Earns Buy Rating from Wedbush

Signal Genetics (NASDAQ:MGEN)‘s stock had its “buy” rating reaffirmed by equities researchers at Wedbush in a research note issued to investors on Friday. They presently have a $19.00 target price on the medical research company’s stock. Wedbush’s price objective would indicate a potential upside of 138.39% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Signal Genetics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, August 15th. Chardan Capital reiterated a “buy” rating and set a $29.00 price target (up from $26.00) on shares of Signal Genetics in a report on Monday, August 14th. Finally, ValuEngine downgraded shares of Signal Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $18.67.

Shares of Signal Genetics (MGEN) traded up $0.19 during midday trading on Friday, hitting $7.97. 71,900 shares of the stock were exchanged, compared to its average volume of 66,732. Signal Genetics has a 1-year low of $4.65 and a 1-year high of $18.00. The company has a quick ratio of 7.11, a current ratio of 7.11 and a debt-to-equity ratio of 0.04.

Signal Genetics (NASDAQ:MGEN) last issued its quarterly earnings results on Wednesday, November 8th. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.12. The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $0.72 million. Signal Genetics had a negative net margin of 720.38% and a negative return on equity of 80.31%. research analysts predict that Signal Genetics will post -1.51 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in MGEN. FMR LLC purchased a new stake in Signal Genetics in the first quarter valued at approximately $38,874,000. University of Texas Investment Managment Co. purchased a new stake in Signal Genetics in the first quarter valued at approximately $1,312,000. Goldman Sachs Group Inc. purchased a new stake in Signal Genetics in the first quarter valued at approximately $807,000. Dowling & Yahnke LLC purchased a new stake in Signal Genetics in the first quarter valued at approximately $498,000. Finally, HighTower Advisors LLC purchased a new stake in Signal Genetics in the first quarter valued at approximately $471,000. Hedge funds and other institutional investors own 22.64% of the company’s stock.

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Signal Genetics Company Profile

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.

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