$1.76 Million in Sales Expected for Miragen Therapeutics Inc (NASDAQ:MGEN) This Quarter

Wall Street brokerages forecast that Miragen Therapeutics Inc (NASDAQ:MGEN) will announce $1.76 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Miragen Therapeutics’ earnings, with the lowest sales estimate coming in at $1.00 million and the highest estimate coming in at $2.51 million. Miragen Therapeutics posted sales of $940,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 87.2%. The business is scheduled to announce its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Miragen Therapeutics will report full year sales of $5.08 million for the current fiscal year, with estimates ranging from $2.90 million to $7.91 million. For the next financial year, analysts anticipate that the company will post sales of $5.53 million, with estimates ranging from $1.00 million to $10.06 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Miragen Therapeutics.

Miragen Therapeutics (NASDAQ:MGEN) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.08. The company had revenue of $2.51 million for the quarter, compared to analysts’ expectations of $0.89 million. Miragen Therapeutics had a negative net margin of 925.52% and a negative return on equity of 78.14%.

Several research analysts recently weighed in on MGEN shares. ValuEngine upgraded shares of Miragen Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Wedbush restated a “buy” rating and issued a $24.00 price objective on shares of Miragen Therapeutics in a research report on Tuesday, May 21st. Finally, Zacks Investment Research upgraded shares of Miragen Therapeutics from a “hold” rating to a “strong-buy” rating and set a $1.25 price objective on the stock in a research report on Tuesday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.69.

Shares of MGEN stock traded down $0.01 during trading on Thursday, hitting $0.83. The company had a trading volume of 182,639 shares, compared to its average volume of 196,315. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average is $1.93 and its two-hundred day moving average is $2.55. The stock has a market capitalization of $38.19 million, a price-to-earnings ratio of -0.76 and a beta of 1.12. Miragen Therapeutics has a 52 week low of $0.78 and a 52 week high of $6.43.

A number of hedge funds and other institutional investors have recently modified their holdings of MGEN. A.R.T. Advisors LLC purchased a new stake in Miragen Therapeutics in the second quarter worth $28,000. Citadel Advisors LLC purchased a new stake in Miragen Therapeutics in the second quarter worth $57,000. Invesco Ltd. purchased a new stake in Miragen Therapeutics in the second quarter worth $71,000. Bank of America Corp DE lifted its stake in Miragen Therapeutics by 35.9% in the fourth quarter. Bank of America Corp DE now owns 33,116 shares of the medical research company’s stock worth $100,000 after acquiring an additional 8,756 shares during the period. Finally, Jane Street Group LLC purchased a new position in Miragen Therapeutics during the second quarter valued at $159,000. Institutional investors and hedge funds own 42.68% 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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Earnings History and Estimates for Miragen Therapeutics (NASDAQ:MGEN)

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