Wedbush Brokers Lift Earnings Estimates for Miragen Therapeutics, Inc. (MGEN)

Miragen Therapeutics, Inc. (NASDAQ:MGEN) – Wedbush increased their Q1 2018 earnings estimates for Miragen Therapeutics in a report issued on Tuesday. Wedbush analyst L. Moussatos now forecasts that the medical research company will post earnings of ($0.22) per share for the quarter, up from their previous estimate of ($0.30). Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Miragen Therapeutics’ Q2 2018 earnings at ($0.23) EPS, Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.26) EPS, FY2018 earnings at ($0.95) EPS, FY2019 earnings at ($1.12) EPS, FY2020 earnings at ($1.39) EPS and FY2021 earnings at ($1.38) EPS.

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Miragen Therapeutics (NASDAQ:MGEN) last announced its quarterly earnings data on Wednesday, March 14th. The medical research company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The company had revenue of $1.19 million for the quarter, compared to analyst estimates of $1.22 million. Miragen Therapeutics had a negative return on equity of 63.57% and a negative net margin of 662.30%.

A number of other research analysts have also weighed in on the company. Cann restated a “buy” rating and issued a $13.00 price objective on shares of Miragen Therapeutics in a report on Friday, February 2nd. Zacks Investment Research lowered Miragen Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Chardan Capital restated a “buy” rating on shares of Miragen Therapeutics in a report on Tuesday, January 16th. B. Riley started coverage on Miragen Therapeutics in a report on Friday, January 5th. They issued a “buy” rating and a $15.50 price objective on the stock. Finally, Evercore ISI started coverage on Miragen Therapeutics in a report on Friday, March 9th. They issued an “outperform” rating and a $19.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.59.

Miragen Therapeutics (MGEN) opened at $7.11 on Friday. The company has a quick ratio of 13.33, a current ratio of 13.33 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $229.61, a price-to-earnings ratio of -4.74 and a beta of 1.64. Miragen Therapeutics has a fifty-two week low of $5.01 and a fifty-two week high of $15.91.

Several hedge funds and other institutional investors have recently bought and sold shares of MGEN. Russell Investments Group Ltd. purchased a new position in shares of Miragen Therapeutics during the 3rd quarter worth $147,000. SG Americas Securities LLC purchased a new position in shares of Miragen Therapeutics during the 3rd quarter worth $250,000. Aveo Capital Partners LLC purchased a new position in shares of Miragen Therapeutics during the 4th quarter worth $279,000. Wells Fargo & Company MN raised its holdings in shares of Miragen Therapeutics by 203.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,804 shares of the medical research company’s stock worth $185,000 after acquiring an additional 11,943 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Miragen Therapeutics by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 45,775 shares of the medical research company’s stock worth $478,000 after acquiring an additional 18,374 shares during the period. Institutional investors and hedge funds own 19.83% of the company’s stock.

In related news, insider Adam Scott Levy purchased 9,090 shares of Miragen Therapeutics stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $5.50 per share, for a total transaction of $49,995.00. Following the acquisition, the insider now directly owns 10,540 shares in the company, valued at $57,970. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce Booth purchased 545,454 shares of Miragen Therapeutics stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of $5.50 per share, for a total transaction of $2,999,997.00. The disclosure for this purchase can be found here. 44.40% of the stock is owned by insiders.

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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.

Earnings History and Estimates for Miragen Therapeutics (NASDAQ:MGEN)

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