$1.22 Million in Sales Expected for Miragen Therapeutics, Inc. (MGEN) This Quarter

Wall Street brokerages forecast that Miragen Therapeutics, Inc. (NASDAQ:MGEN) will announce $1.22 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Miragen Therapeutics’ earnings. The highest sales estimate is $1.63 million and the lowest is $800,000.00. Miragen Therapeutics reported sales of $760,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 60.5%. The firm is scheduled to report its next earnings report on Friday, March 23rd.

On average, analysts expect that Miragen Therapeutics will report full year sales of $1.22 million for the current financial year, with estimates ranging from $3.60 million to $4.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $3.44 million per share, with estimates ranging from $1.50 million to $6.52 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Miragen Therapeutics.

A number of brokerages have commented on MGEN. Oppenheimer began coverage on shares of Miragen Therapeutics in a research report on Friday, January 12th. They issued an “outperform” rating and a $13.00 price objective on the stock. B. Riley began coverage on shares of Miragen Therapeutics in a research report on Friday, January 5th. They issued a “buy” rating and a $15.50 target price on the stock. Chardan Capital reaffirmed a “buy” rating on shares of Miragen Therapeutics in a research report on Tuesday, January 16th. Zacks Investment Research raised shares of Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, October 19th. Finally, Cann began coverage on shares of Miragen Therapeutics in a research report on Friday, January 12th. They issued an “outperform” rating and a $13.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.46.

In other Miragen Therapeutics news, Director Thomas E. Hughes sold 12,000 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bruce Booth acquired 545,454 shares of the stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $5.50 per share, for a total transaction of $2,999,997.00. The disclosure for this purchase can be found here. Company insiders own 44.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in Miragen Therapeutics by 203.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,804 shares of the medical research company’s stock worth $185,000 after purchasing an additional 11,943 shares during the last quarter. Seaward Management Limited Partnership purchased a new position in Miragen Therapeutics during the 3rd quarter worth $117,000. Russell Investments Group Ltd. purchased a new position in Miragen Therapeutics during the 3rd quarter worth $147,000. Bank of New York Mellon Corp grew its position in Miragen Therapeutics by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 45,775 shares of the medical research company’s stock worth $478,000 after purchasing an additional 18,374 shares during the last quarter. Finally, BSW Wealth Partners purchased a new position in Miragen Therapeutics during the 3rd quarter worth $203,000. 22.59% of the stock is currently owned by institutional investors.

Shares of Miragen Therapeutics (NASDAQ:MGEN) opened at $5.82 on Thursday. Miragen Therapeutics has a 52-week low of $5.01 and a 52-week high of $18.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.11 and a current ratio of 7.11.

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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.

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