Zacks Investment Research Downgrades Miragen Therapeutics (MGEN) to Hold

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

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 commented on MGEN. Chardan Capital reissued a “buy” rating and issued a $29.00 price target on shares of Miragen Therapeutics in a report on Monday, October 16th. Wedbush restated a “buy” rating and set a $19.00 price objective on shares of Miragen Therapeutics in a research note on Friday, December 1st. Finally, B. Riley began coverage on Miragen Therapeutics in a research note on Friday. They set a “buy” rating and a $15.50 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Miragen Therapeutics presently has a consensus rating of “Buy” and an average target price of $17.88.

Miragen Therapeutics (NASDAQ MGEN) opened at $9.10 on Friday. The company has a market capitalization of $217.07, a PE ratio of 60.67 and a beta of 1.91. Miragen Therapeutics has a 1-year low of $4.76 and a 1-year high of $18.00. The company has a quick ratio of 7.11, a current ratio of 7.11 and a debt-to-equity ratio of 0.04.

Miragen Therapeutics (NASDAQ:MGEN) last issued its quarterly earnings results on Wednesday, November 8th. The medical research company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.12. The firm had revenue of $1.63 million during the quarter, compared to the consensus estimate of $0.72 million. Miragen Therapeutics had a negative return on equity of 80.31% and a negative net margin of 720.38%. equities analysts forecast that Miragen Therapeutics will post -1.39 EPS for the current fiscal year.

In other news, Director Thomas E. Hughes sold 12,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $8.00, for a total transaction of $96,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 44.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Miragen Therapeutics during the 3rd quarter valued at $250,000. BSW Wealth Partners bought a new position in Miragen Therapeutics during the 3rd quarter valued at $203,000. Russell Investments Group Ltd. bought a new position in Miragen Therapeutics during the 3rd quarter valued at $147,000. Finally, Seaward Management Limited Partnership bought a new position in Miragen Therapeutics during the 3rd quarter valued at $117,000. Hedge funds and other institutional investors own 22.64% of the company’s stock.

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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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