Miragen Therapeutics (MGEN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Miragen Therapeutics (NASDAQ:MGEN) from a buy rating to a hold rating in a research report released on Wednesday.

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 a number of other research reports. Chardan Capital reaffirmed a buy rating and set a $29.00 price objective on shares of Miragen Therapeutics in a research report on Monday, October 16th. Wedbush reissued a buy rating and issued a $19.00 price target on shares of Miragen Therapeutics in a research report on Friday, December 1st. Oppenheimer began coverage on shares of Miragen Therapeutics in a research report on Friday, January 12th. They issued an outperform rating and a $13.00 price target for the company. Cann began coverage on shares of Miragen Therapeutics in a research report on Friday, January 12th. They issued an outperform rating and a $13.00 price target for the company. Finally, B. Riley began coverage on shares of Miragen Therapeutics in a research report on Friday, January 5th. They issued a buy rating and a $15.50 price target for the company. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $16.46.

Shares of Miragen Therapeutics (MGEN) traded down $0.21 on Wednesday, hitting $7.92. 140,432 shares of the stock were exchanged, compared to its average volume of 191,633. The firm has a market capitalization of $181.38, a price-to-earnings ratio of 52.80 and a beta of 1.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.11 and a quick ratio of 7.11. Miragen Therapeutics has a 1-year low of $6.02 and a 1-year high of $18.00.

Miragen Therapeutics (NASDAQ:MGEN) last announced its quarterly earnings data on Wednesday, November 8th. The medical research company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.12. The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $0.72 million. Miragen Therapeutics had a negative net margin of 720.38% and a negative return on equity of 80.31%. equities research analysts predict that Miragen Therapeutics will post -1.35 earnings per share for the current year.

In related news, Director Thomas E. Hughes sold 12,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $8.00, for a total value of $96,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 44.40% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Miragen Therapeutics in the third quarter worth about $250,000. BSW Wealth Partners acquired a new position in Miragen Therapeutics in the third quarter worth about $203,000. Russell Investments Group Ltd. acquired a new stake in shares of Miragen Therapeutics during the third quarter worth approximately $147,000. Finally, Seaward Management Limited Partnership acquired a new stake in shares of Miragen Therapeutics during the third quarter worth approximately $117,000. 22.64% of the stock is owned by hedge funds and other institutional investors.

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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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