Zacks: Brokerages Expect Miragen Therapeutics Inc (NASDAQ:MGEN) Will Announce Quarterly Sales of $1.76 Million

Brokerages expect Miragen Therapeutics Inc (NASDAQ:MGEN) to post sales of $1.76 million for the current quarter, Zacks reports. Two analysts have made estimates for Miragen Therapeutics’ earnings, with the highest sales estimate coming in at $2.51 million and the lowest estimate coming in at $1.00 million. Miragen Therapeutics reported sales of $940,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 87.2%. The business is expected to announce its next quarterly earnings results on Wednesday, November 6th.

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

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

A number of research firms recently issued reports on MGEN. ValuEngine raised shares of Miragen Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush reissued a “buy” rating and issued a $24.00 price objective on shares of Miragen Therapeutics in a report on Tuesday, May 21st. Finally, Zacks Investment Research raised 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 report on Tuesday. One equities 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. Miragen Therapeutics has a consensus rating of “Buy” and an average price target of $15.69.

A number of institutional investors have recently added to or reduced their stakes in MGEN. Bank of America Corp DE increased its holdings in shares of Miragen Therapeutics by 35.9% during the fourth quarter. Bank of America Corp DE now owns 33,116 shares of the medical research company’s stock valued at $100,000 after acquiring an additional 8,756 shares in the last quarter. BlackRock Inc. lifted its position in shares of Miragen Therapeutics by 3.4% in the fourth quarter. BlackRock Inc. now owns 1,459,881 shares of the medical research company’s stock valued at $4,423,000 after acquiring an additional 48,128 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Miragen Therapeutics by 266.7% in the fourth quarter. Deutsche Bank AG now owns 190,653 shares of the medical research company’s stock valued at $577,000 after acquiring an additional 138,657 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Miragen Therapeutics by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 216,866 shares of the medical research company’s stock valued at $657,000 after acquiring an additional 4,404 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Miragen Therapeutics by 59.1% in the fourth quarter. Bank of New York Mellon Corp now owns 99,844 shares of the medical research company’s stock valued at $302,000 after acquiring an additional 37,101 shares in the last quarter. 42.68% of the stock is currently owned by hedge funds and other institutional investors.

MGEN traded down $0.06 during midday trading on Thursday, hitting $1.17. The company had a trading volume of 111,100 shares, compared to its average volume of 194,560. Miragen Therapeutics has a 52 week low of $0.98 and a 52 week high of $6.43. 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 has a market cap of $37.26 million, a P/E ratio of -1.06 and a beta of 1.12. The stock’s 50 day simple moving average is $1.99.

About Miragen Therapeutics

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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