Miragen Therapeutics (NASDAQ:MGEN) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of Miragen Therapeutics (NASDAQ:MGEN) from a buy rating to a hold rating in a research note released 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. “

A number of other research analysts also recently issued reports on MGEN. ValuEngine downgraded Miragen Therapeutics from a buy rating to a hold rating in a research note on Friday, February 7th. HC Wainwright restated a buy rating and set a $3.00 price target on shares of Miragen Therapeutics in a research note on Monday, December 2nd. Robert W. Baird downgraded Miragen Therapeutics from an outperform rating to a neutral rating in a research note on Thursday, December 12th. Finally, Wedbush restated a buy rating and set a $10.00 price target (up previously from $8.00) on shares of Miragen Therapeutics in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Miragen Therapeutics presently has an average rating of Hold and an average target price of $4.83.

NASDAQ:MGEN opened at $0.83 on Thursday. The stock’s 50 day moving average price is $0.91 and its 200 day moving average price is $0.85. The company has a market capitalization of $26.40 million, a PE ratio of -0.61 and a beta of 0.98. The company has a quick ratio of 3.68, a current ratio of 3.68 and a debt-to-equity ratio of 0.23. Miragen Therapeutics has a 52-week low of $0.44 and a 52-week high of $3.80.

A number of institutional investors have recently bought and sold shares of MGEN. Virtu Financial LLC acquired a new stake in Miragen Therapeutics during the 4th quarter worth approximately $25,000. Game Plan Financial Advisors LLC acquired a new stake in Miragen Therapeutics during the 4th quarter worth approximately $28,000. Wedbush Securities Inc. acquired a new stake in Miragen Therapeutics during the 4th quarter worth approximately $42,000. Invesco Ltd. acquired a new stake in Miragen Therapeutics during the 2nd quarter worth approximately $71,000. Finally, Renaissance Technologies LLC lifted its position in Miragen Therapeutics by 127.8% during the 4th quarter. Renaissance Technologies LLC now owns 464,033 shares of the medical research company’s stock worth $223,000 after acquiring an additional 260,322 shares during the period. 28.42% of the stock is owned by institutional investors.

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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