Miragen Therapeutics (NASDAQ:MGEN) Stock Rating Lowered by Zacks Investment Research

Miragen Therapeutics (NASDAQ:MGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

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 research analysts have also issued reports on MGEN. HC Wainwright began coverage on shares of Miragen Therapeutics in a research note on Monday, August 19th. They set a “buy” rating and a $3.00 target price for the company. ValuEngine raised shares of Miragen Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Miragen Therapeutics has an average rating of “Buy” and a consensus target price of $11.56.

Miragen Therapeutics stock opened at $0.65 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.26 and a quick ratio of 5.26. The firm has a 50-day moving average price of $0.77 and a two-hundred day moving average price of $1.69. Miragen Therapeutics has a 52-week low of $0.57 and a 52-week high of $4.96.

Miragen Therapeutics (NASDAQ:MGEN) last posted its earnings results on Thursday, November 7th. The medical research company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The firm had revenue of $0.70 million for the quarter, compared to analyst estimates of $1.67 million. Miragen Therapeutics had a negative net margin of 1,037.02% and a negative return on equity of 100.38%. Sell-side analysts anticipate that Miragen Therapeutics will post -1.1 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Miragen Therapeutics by 37.7% during the 2nd quarter. Vanguard Group Inc. now owns 617,914 shares of the medical research company’s stock valued at $1,267,000 after purchasing an additional 169,086 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Miragen Therapeutics by 10.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 359,243 shares of the medical research company’s stock worth $794,000 after acquiring an additional 33,557 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Miragen Therapeutics in the 2nd quarter worth approximately $239,000. Jane Street Group LLC acquired a new stake in shares of Miragen Therapeutics in the 2nd quarter worth approximately $159,000. Finally, Invesco Ltd. acquired a new stake in shares of Miragen Therapeutics in the 2nd quarter worth approximately $71,000. 39.20% of the stock is owned by hedge funds and other institutional investors.

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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