Zacks Investment Research upgraded shares of Signal Genetics, Inc. (NASDAQ:MGEN) from a hold rating to a buy rating in a research report released on Thursday, October 19th. They currently have $10.00 target price on the medical research company’s stock.
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 on shares of Signal Genetics in a research report on Monday, August 7th. ValuEngine raised Signal Genetics from a sell rating to a hold rating in a research report on Tuesday, June 27th. Finally, Wedbush reaffirmed a buy rating on shares of Signal Genetics in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $18.67.
Shares of Signal Genetics (NASDAQ:MGEN) traded down $0.21 on Thursday, hitting $7.80. The stock had a trading volume of 104,186 shares, compared to its average volume of 94,337. Signal Genetics has a one year low of $2.65 and a one year high of $18.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.44 and a current ratio of 7.44.
Signal Genetics (NASDAQ:MGEN) last issued its earnings results on Friday, August 11th. The medical research company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.13. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $0.46 million. Signal Genetics had a negative return on equity of 92.62% and a negative net margin of 770.31%. sell-side analysts expect that Signal Genetics will post -1.63 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in shares of Signal Genetics during the third quarter worth approximately $147,000. BSW Wealth Partners acquired a new position in shares of Signal Genetics during the third quarter worth approximately $203,000. SG Americas Securities LLC acquired a new position in shares of Signal Genetics during the third quarter worth approximately $250,000. HighTower Advisors LLC acquired a new position in shares of Signal Genetics during the first quarter worth approximately $471,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Signal Genetics during the first quarter worth approximately $807,000. 20.66% of the stock is owned by hedge funds and other institutional investors.
About Signal Genetics
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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