Cann reaffirmed their buy rating on shares of Miragen Therapeutics (NASDAQ:MGEN) in a research note published on Monday, October 1st. The firm currently has a $19.00 price target on the medical research company’s stock.
“We estimate remlarsen (MRG-201) could be a modest revenue contributor to miRagen starting in 2024 in the prevention of keloid formation. The preclinical data presented today, and previously presented, are encouraging for this compound clinically for the prevention of corneal and retinal fibrosis and could result in an additional setting for remlarsen (MRG-201). The timing of the phase II study, which initiated in with these preclinical data presented today, support our outlook for miRagen in the anti-fibrotic setting, and could result in upside to our outlook from corneal fibrosis treatment.”,” Cann’s analyst wrote.
Other equities research analysts have also recently issued reports about the stock. Wedbush reissued a buy rating and issued a $19.00 price objective on shares of Miragen Therapeutics in a research note on Wednesday, August 8th. Zacks Investment Research raised shares of Miragen Therapeutics from a hold rating to a buy rating and set a $8.25 price objective on the stock in a research note on Wednesday, July 18th. Finally, ValuEngine raised shares of Miragen Therapeutics from a sell rating to a hold rating in a research note on Wednesday, June 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Miragen Therapeutics currently has an average rating of Buy and an average price target of $16.86.
Shares of MGEN opened at $5.26 on Monday. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $170.73 million, a PE ratio of -3.81 and a beta of 1.33. Miragen Therapeutics has a 52-week low of $4.95 and a 52-week high of $10.70.
Miragen Therapeutics (NASDAQ:MGEN) last announced its quarterly earnings results on Tuesday, August 7th. The medical research company reported ($0.29) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.29). The business had revenue of $2.18 million during the quarter, compared to the consensus estimate of $0.83 million. Miragen Therapeutics had a negative net margin of 261.47% and a negative return on equity of 46.99%. On average, equities research analysts forecast that Miragen Therapeutics will post -1.12 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in MGEN. Schwab Charles Investment Management Inc. boosted its stake in shares of Miragen Therapeutics by 63.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 34,900 shares of the medical research company’s stock worth $245,000 after purchasing an additional 13,600 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Miragen Therapeutics by 26.2% during the 1st quarter. Northern Trust Corp now owns 171,264 shares of the medical research company’s stock worth $1,201,000 after purchasing an additional 35,543 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Miragen Therapeutics by 40.8% during the 1st quarter. BlackRock Inc. now owns 809,320 shares of the medical research company’s stock worth $5,673,000 after purchasing an additional 234,403 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Miragen Therapeutics by 151.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 164,447 shares of the medical research company’s stock worth $1,153,000 after purchasing an additional 99,163 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Miragen Therapeutics during the 1st quarter worth about $117,000. 37.03% of the stock is currently owned by institutional investors.
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 microRNA-155, which is in Phase I clinical trial for treating cutaneous T-cell lymphoma; MRG-201, a replacement for microRNA-29, which is in Phase I clinical trial that is found at low levels in various pathological fibrotic conditions, including cutaneous, cardiac, renal, hepatic, and pulmonary fibrosis, as well as systemic sclerosis; and MRG-110, an inhibitor of microRNA-92 that is expressed in endothelial cells and has shown to accelerate the formation of new blood vessels in preclinical models of heart failure, peripheral ischemia, and dermal wounding in the United States and Japan.
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