Miragen Therapeutics (NASDAQ:MGEN) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Miragen Therapeutics (NASDAQ:MGEN) from a buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

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. Wedbush reiterated a buy rating and set a $24.00 price objective on shares of Miragen Therapeutics in a research note on Tuesday, May 21st. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. 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. The stock has an average rating of Buy and a consensus price target of $16.00.

MGEN opened at $2.05 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 7.90 and a quick ratio of 7.90. The company has a 50 day moving average price of $2.34. Miragen Therapeutics has a 52 week low of $2.01 and a 52 week high of $7.65.

Miragen Therapeutics (NASDAQ:MGEN) last released its earnings results on Wednesday, May 8th. The medical research company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). The firm had revenue of $0.37 million during the quarter, compared to analysts’ expectations of $1.35 million. Miragen Therapeutics had a negative net margin of 998.26% and a negative return on equity of 71.91%. As a group, research analysts expect that Miragen Therapeutics will post -1.41 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in MGEN. Bank of America Corp DE raised its stake in Miragen Therapeutics by 35.9% during the fourth quarter. Bank of America Corp DE now owns 33,116 shares of the medical research company’s stock valued at $100,000 after buying an additional 8,756 shares during the last quarter. Rhumbline Advisers raised its stake in Miragen Therapeutics by 51.4% during the fourth quarter. Rhumbline Advisers now owns 33,350 shares of the medical research company’s stock valued at $101,000 after buying an additional 11,321 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Miragen Therapeutics during the fourth quarter valued at $179,000. Bank of New York Mellon Corp raised its stake in Miragen Therapeutics by 59.1% during the fourth quarter. Bank of New York Mellon Corp now owns 99,844 shares of the medical research company’s stock valued at $302,000 after buying an additional 37,101 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its stake in Miragen Therapeutics by 19.8% during the first quarter. Motley Fool Asset Management LLC now owns 173,998 shares of the medical research company’s stock valued at $485,000 after buying an additional 28,760 shares during the last quarter. Institutional investors and hedge funds own 42.81% of the company’s stock.

Miragen Therapeutics Company Profile

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.

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