Wall Street brokerages expect Miragen Therapeutics Inc (NASDAQ:MGEN) to report $970,000.00 in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Miragen Therapeutics’ earnings. The lowest sales estimate is $700,000.00 and the highest is $1.50 million. Miragen Therapeutics posted sales of $480,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 102.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, March 11th.
On average, analysts expect that Miragen Therapeutics will report full year sales of $4.32 million for the current financial year, with estimates ranging from $3.60 million to $5.10 million. For the next year, analysts forecast that the firm will post sales of $3.27 million, with estimates ranging from $1.00 million to $6.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Miragen Therapeutics.
Miragen Therapeutics (NASDAQ:MGEN) last issued its quarterly earnings data on Thursday, November 7th. The medical research company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $1.67 million. Miragen Therapeutics had a negative net margin of 1,037.02% and a negative return on equity of 113.02%.
MGEN has been the topic of several recent research reports. Zacks Investment Research lowered shares of Miragen Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of Miragen Therapeutics in a research report on Monday, December 2nd. Robert W. Baird lowered shares of Miragen Therapeutics from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 12th. Finally, Wedbush reaffirmed a “buy” rating and set a $8.00 price objective (down previously from $24.00) on shares of Miragen Therapeutics in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.92.
A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in Miragen Therapeutics by 901.7% during the third quarter. Millennium Management LLC now owns 400,755 shares of the medical research company’s stock valued at $292,000 after purchasing an additional 360,746 shares during the last quarter. Jane Street Group LLC acquired a new position in Miragen Therapeutics during the second quarter valued at approximately $159,000. Citadel Advisors LLC acquired a new position in Miragen Therapeutics during the second quarter valued at approximately $57,000. Paloma Partners Management Co acquired a new position in Miragen Therapeutics during the second quarter valued at approximately $239,000. Finally, Invesco Ltd. acquired a new position in Miragen Therapeutics during the second quarter valued at approximately $71,000. Institutional investors own 34.20% of the company’s stock.
Shares of MGEN opened at $0.72 on Wednesday. The firm has a market cap of $22.89 million, a PE ratio of -0.65 and a beta of 1.36. The firm’s 50 day moving average price is $0.60 and its 200 day moving average price is $1.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.68 and a current ratio of 3.68. Miragen Therapeutics has a twelve month low of $0.44 and a twelve month high of $3.80.
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 miR-155 for treating various blood cancers, such as cutaneous T-cell lymphoma, adult T-cell lymphoma/leukemia, diffuse large B-cell lymphoma, and chronic lymphocytic leukemia; Remlarsen, a replacement for miR-29, a microRNA that is found at abnormally low levels in various pathological fibrotic conditions, including cutaneous, ocular, and idiopathic pulmonary fibrosis; and MRG-110, an inhibitor of miR-92, a microRNA expressed in endothelial cells for the treatment of heart failure, as well as surgical incisions in high risk populations, severe lacerations, and severe burns in the United States and Japan.
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