Miragen Therapeutics (MGEN) Upgraded to Buy by Zacks Investment Research

Miragen Therapeutics (NASDAQ:MGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $10.00 price objective on the medical research company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.23% from the company’s current price.

According to Zacks, “Miragen Therapeutics, Inc. is a biopharmaceutical company. It develops microRNA biology, oligonucleotide chemistry, drugs and therapies for cancer, pathologic fibrosis, neuro-inflammatory and cardiovascular diseases. Miragen Therapeutics, Inc., formerly known as Signal Genetics, is headquartered in Boulder, Colorado. “

A number of other brokerages also recently weighed in on MGEN. B. Riley assumed coverage on shares of Miragen Therapeutics in a research note on Friday, January 5th. They issued a “buy” rating and a $15.50 target price for the company. Chardan Capital reaffirmed a “buy” rating and issued a $29.00 target price on shares of Miragen Therapeutics in a research note on Monday, October 16th. Finally, Wedbush reaffirmed a “buy” rating and issued a $19.00 target price on shares of Miragen Therapeutics in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.58.

Shares of Miragen Therapeutics (MGEN) traded up $0.35 during midday trading on Tuesday, hitting $8.91. 140,851 shares of the company’s stock were exchanged, compared to its average volume of 269,717. Miragen Therapeutics has a one year low of $6.02 and a one year high of $18.00. The company has a market capitalization of $190.97, a P/E ratio of 59.40 and a beta of 1.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.11 and a current ratio of 7.11.

Miragen Therapeutics (NASDAQ:MGEN) last announced its earnings results on Wednesday, November 8th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.12. Miragen Therapeutics had a negative net margin of 720.38% and a negative return on equity of 80.31%. The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $0.72 million. research analysts expect that Miragen Therapeutics will post -1.26 earnings per share for the current year.

In related news, Director Thomas E. Hughes sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $96,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 44.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Seaward Management Limited Partnership bought a new stake in shares of Miragen Therapeutics during the third quarter worth approximately $117,000. SG Americas Securities LLC bought a new stake in shares of Miragen Therapeutics during the third quarter worth approximately $250,000. Russell Investments Group Ltd. bought a new stake in shares of Miragen Therapeutics during the third quarter worth approximately $147,000. Finally, BSW Wealth Partners bought a new stake in shares of Miragen Therapeutics during the third quarter worth approximately $203,000. 22.64% of the stock is owned by institutional investors and hedge funds.

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Miragen Therapeutics Company Profile

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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