Equities analysts expect Miragen Therapeutics Inc (NASDAQ:MGEN) to announce sales of $1.89 million for the current quarter, according to Zacks. Three analysts have made estimates for Miragen Therapeutics’ earnings, with the lowest sales estimate coming in at $1.30 million and the highest estimate coming in at $2.20 million. Miragen Therapeutics posted sales of $1.63 million in the same quarter last year, which suggests a positive year over year growth rate of 16%. The business is expected to announce its next quarterly earnings report on Wednesday, November 14th.
On average, analysts expect that Miragen Therapeutics will report full year sales of $9.93 million for the current financial year, with estimates ranging from $7.00 million to $12.33 million. For the next financial year, analysts anticipate that the firm will report sales of $7.28 million, with estimates ranging from $5.50 million to $10.73 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Miragen Therapeutics.
Miragen Therapeutics (NASDAQ:MGEN) last announced its earnings results on Tuesday, August 7th. The medical research company reported ($0.29) EPS for the quarter, hitting the consensus estimate of ($0.29). The company had revenue of $2.18 million for the quarter, compared to analysts’ expectations of $0.83 million. Miragen Therapeutics had a negative return on equity of 46.99% and a negative net margin of 261.47%.
Several analysts have recently commented on MGEN shares. Zacks Investment Research upgraded Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Wednesday, July 18th. Cann reiterated a “buy” rating and issued a $19.00 price target on shares of Miragen Therapeutics in a report on Monday, August 6th. Wedbush reiterated an “outperform” rating and issued a $19.00 price target on shares of Miragen Therapeutics in a report on Monday, October 8th. Finally, ValuEngine upgraded Miragen Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Miragen Therapeutics has an average rating of “Buy” and an average target price of $16.86.
In other news, Director Thomas E. Hughes purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 11th. The shares were acquired at an average price of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the acquisition, the director now directly owns 12,827 shares in the company, valued at $61,184.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Opaleye Management Inc. boosted its holdings in Miragen Therapeutics by 13.2% during the second quarter. Opaleye Management Inc. now owns 1,200,000 shares of the medical research company’s stock worth $7,692,000 after buying an additional 140,000 shares during the last quarter. BSW Wealth Partners bought a new position in Miragen Therapeutics during the second quarter worth about $143,000. BlackRock Inc. boosted its holdings in Miragen Therapeutics by 40.8% during the first quarter. BlackRock Inc. now owns 809,320 shares of the medical research company’s stock worth $5,673,000 after buying an additional 234,403 shares during the last quarter. Northern Trust Corp boosted its holdings in Miragen Therapeutics by 26.2% during the first quarter. Northern Trust Corp now owns 171,264 shares of the medical research company’s stock worth $1,201,000 after buying an additional 35,543 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Miragen Therapeutics by 63.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 34,900 shares of the medical research company’s stock worth $245,000 after buying an additional 13,600 shares during the last quarter. Hedge funds and other institutional investors own 37.03% of the company’s stock.
Shares of MGEN stock opened at $4.50 on Friday. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.15. The firm has a market cap of $170.73 million, a PE ratio of -3.26 and a beta of 1.33. Miragen Therapeutics has a 52 week low of $4.38 and a 52 week high of $10.70.
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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