Miragen Therapeutics Inc (NASDAQ:MGEN) Receives $15.17 Average PT from Brokerages

Shares of Miragen Therapeutics Inc (NASDAQ:MGEN) have earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $15.17.

A number of brokerages have recently issued reports on MGEN. Zacks Investment Research downgraded Miragen Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Miragen Therapeutics in a research report on Monday, December 2nd.

Shares of MGEN traded up $0.05 during mid-day trading on Friday, reaching $0.69. 474,561 shares of the company were exchanged, compared to its average volume of 223,310. Miragen Therapeutics has a 52 week low of $0.57 and a 52 week high of $4.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.68 and a current ratio of 3.68. The stock has a market capitalization of $21.90 million, a PE ratio of -0.63 and a beta of 1.47. The business has a 50 day simple moving average of $0.70 and a two-hundred day simple moving average of $1.38.

Miragen Therapeutics (NASDAQ:MGEN) last issued its quarterly earnings data on Thursday, November 7th. The medical research company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.06). Miragen Therapeutics had a negative return on equity of 113.02% and a negative net margin of 1,037.02%. The company had revenue of $0.70 million for the quarter, compared to the consensus estimate of $1.67 million. On average, analysts predict that Miragen Therapeutics will post -1.08 EPS for the current year.

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Miragen Therapeutics by 10.3% in the second quarter. JPMorgan Chase & Co. now owns 359,243 shares of the medical research company’s stock worth $794,000 after purchasing an additional 33,557 shares in the last quarter. Jane Street Group LLC bought a new stake in Miragen Therapeutics in the second quarter worth approximately $159,000. Invesco Ltd. bought a new stake in Miragen Therapeutics in the second quarter worth approximately $71,000. Vanguard Group Inc. increased its holdings in Miragen Therapeutics by 37.7% in the second quarter. Vanguard Group Inc. now owns 617,914 shares of the medical research company’s stock worth $1,267,000 after purchasing an additional 169,086 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Miragen Therapeutics in the second quarter worth approximately $57,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.

Recommended Story: How dollar cost averaging works

Receive News & Ratings for Miragen Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Miragen Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.