Miragen Therapeutics (MGEN) Rating Reiterated by Cann

Miragen Therapeutics (NASDAQ:MGEN)‘s stock had its “buy” rating reissued by analysts at Cann in a research report issued on Friday. They currently have a $13.00 price target on the medical research company’s stock. Cann’s price objective would indicate a potential upside of 46.07% from the stock’s previous close.

The analysts wrote, “MiRagen Therapeutics announced today positive new interim data from its phase I clinical trial of MRG-106 in patients with the mycosis fungoides (MF) form of cutaneous T-cell lymphoma (CTCL) will be presented on February 2, 2018, at the 10th Annual T-cell Lymphoma Forum in La Jolla, California. These positive results support MiRagen’s plans to initiate a phase II study of MRG-106 in CTCL in the second half of 2018. The data released today, along with the planned phase II trial design support our expectation that MRG-106 will be able to proceed to a registration phase II study, avoiding phase III trials.””

Several other brokerages have also recently issued reports on MGEN. B. Riley assumed coverage on shares of Miragen Therapeutics in a research report on Friday, January 5th. They issued a “buy” rating and a $15.50 price target for the company. Chardan Capital reiterated a “buy” rating and set a $29.00 price objective on shares of Miragen Therapeutics in a research report on Monday, October 16th. Zacks Investment Research cut shares of Miragen Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Oppenheimer initiated coverage on shares of Miragen Therapeutics in a research report on Friday, January 12th. They set an “outperform” rating and a $13.00 price objective for the company. Finally, Wedbush reiterated a “buy” rating and set a $19.00 price objective on shares of Miragen Therapeutics in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Miragen Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $16.46.

Shares of Miragen Therapeutics (NASDAQ MGEN) traded up $0.92 during midday trading on Friday, reaching $8.90. 122,434 shares of the company’s stock traded hands, compared to its average volume of 158,963. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.11 and a current ratio of 7.11. Miragen Therapeutics has a 1 year low of $6.02 and a 1 year high of $18.00. The firm has a market cap of $167.32 and a PE ratio of -1.00.

Miragen Therapeutics (NASDAQ:MGEN) last announced its quarterly earnings results on Wednesday, November 8th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.12. Miragen Therapeutics had a negative net margin of 720.38% and a negative return on equity of 80.31%. The firm had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $0.72 million. analysts expect that Miragen Therapeutics will post -1.35 EPS for the current year.

In other news, Director Thomas E. Hughes sold 12,000 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $96,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 44.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MGEN. Seaward Management Limited Partnership bought a new position in Miragen Therapeutics during the third quarter worth $117,000. Russell Investments Group Ltd. bought a new position in Miragen Therapeutics during the third quarter worth $147,000. BSW Wealth Partners bought a new position in Miragen Therapeutics during the third quarter worth $203,000. Finally, SG Americas Securities LLC bought a new position in Miragen Therapeutics during the third quarter worth $250,000. 22.64% of the stock is currently owned by institutional investors and hedge funds.

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About Miragen Therapeutics

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.

Analyst Recommendations for Miragen Therapeutics (NASDAQ:MGEN)

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