Miragen Therapeutics (NASDAQ:MGEN) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Miragen Therapeutics (NASDAQ:MGEN) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. The firm currently has $2.50 price target on the medical research company’s stock.

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. “

MGEN has been the subject of several other research reports. Wedbush reiterated a buy rating and set a $24.00 price objective on shares of Miragen Therapeutics in a report on Tuesday, May 21st. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Miragen Therapeutics has a consensus rating of Buy and a consensus target price of $16.00.

Miragen Therapeutics stock opened at $2.05 on Wednesday. The business’s fifty day moving average is $2.34. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.17. Miragen Therapeutics has a twelve month low of $2.01 and a twelve month high of $7.65.

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

Several institutional investors and hedge funds have recently modified their holdings of MGEN. Bank of America Corp DE lifted its holdings in shares of Miragen Therapeutics by 35.9% during the 4th quarter. Bank of America Corp DE now owns 33,116 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 8,756 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Miragen Therapeutics by 51.4% during the 4th quarter. Rhumbline Advisers now owns 33,350 shares of the medical research company’s stock valued at $101,000 after purchasing an additional 11,321 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Miragen Therapeutics during the 4th quarter valued at $179,000. Bank of New York Mellon Corp lifted its holdings in shares of Miragen Therapeutics by 59.1% during the 4th quarter. Bank of New York Mellon Corp now owns 99,844 shares of the medical research company’s stock valued at $302,000 after purchasing an additional 37,101 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in shares of Miragen Therapeutics by 19.8% during the 1st quarter. Motley Fool Asset Management LLC now owns 173,998 shares of the medical research company’s stock valued at $485,000 after purchasing an additional 28,760 shares during the last quarter. Hedge funds and other institutional investors own 42.81% 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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