Miragen Therapeutics (MGEN) Earns Buy Rating from Wedbush

Miragen Therapeutics (NASDAQ:MGEN)‘s stock had its “buy” rating reaffirmed by analysts at Wedbush in a research note issued on Tuesday, AnalystRatings.com reports. They presently have a $24.00 price target on the medical research company’s stock.

Several other research firms have also commented on MGEN. Zacks Investment Research lowered shares of Miragen Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. ValuEngine lowered shares of Miragen Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Miragen Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $16.19.

Miragen Therapeutics stock opened at $2.83 on Tuesday. Miragen Therapeutics has a 52 week low of $2.20 and a 52 week high of $7.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.90 and a current ratio of 7.90. The stock has a market capitalization of $87.23 million, a P/E ratio of -2.57 and a beta of 1.24.

Miragen Therapeutics (NASDAQ:MGEN) last released its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Miragen Therapeutics had a negative return on equity of 71.91% and a negative net margin of 998.26%. The business had revenue of $0.37 million during the quarter, compared to analysts’ expectations of $1.35 million. Analysts forecast that Miragen Therapeutics will post -1.41 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Atlas Venture Advisors Inc. purchased a new position in Miragen Therapeutics in the 4th quarter valued at about $9,522,000. 683 Capital Management LLC purchased a new position in Miragen Therapeutics in the 4th quarter valued at about $5,142,000. BlackRock Inc. lifted its holdings in Miragen Therapeutics by 3.4% in the 4th quarter. BlackRock Inc. now owns 1,459,881 shares of the medical research company’s stock valued at $4,423,000 after purchasing an additional 48,128 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Miragen Therapeutics by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 230,127 shares of the medical research company’s stock valued at $697,000 after purchasing an additional 11,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Miragen Therapeutics by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 216,866 shares of the medical research company’s stock valued at $657,000 after purchasing an additional 4,404 shares in the last quarter. Institutional investors own 47.02% of the company’s stock.

Miragen Therapeutics Company Profile

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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