Chardan Capital reissued their buy rating on shares of Signal Genetics, Inc. (NASDAQ:MGEN) in a research note released on Tuesday morning. They currently have a $26.00 price target on the medical research company’s stock.
Several other research analysts have also recently issued reports on the company. Wedbush reissued an outperform rating and issued a $19.00 price target on shares of Signal Genetics in a research note on Tuesday, May 2nd. Zacks Investment Research cut Signal Genetics from a hold rating to a sell rating in a research note on Tuesday, May 16th. Cowen and Company initiated coverage on Signal Genetics in a research note on Thursday, June 1st. They set an outperform rating for the company. Finally, ValuEngine raised Signal Genetics from a sell rating to a hold rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $15.67.
Shares of Signal Genetics (NASDAQ MGEN) remained flat at $14.27 during mid-day trading on Tuesday. 6,038 shares of the stock traded hands. The firm has a 50-day moving average price of $11.72 and a 200 day moving average price of $11.82. Signal Genetics has a 52-week low of $1.80 and a 52-week high of $18.00. The stock’s market cap is $305.39 million.
Signal Genetics (NASDAQ:MGEN) last released its quarterly earnings results on Wednesday, May 10th. The medical research company reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.36. Signal Genetics had a negative return on equity of 109.13% and a negative net margin of 555.68%. The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1 million. Equities research analysts expect that Signal Genetics will post ($1.97) EPS for the current year.
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Several large investors have recently made changes to their positions in the stock. FMR LLC bought a new stake in shares of Signal Genetics during the first quarter valued at approximately $38,874,000. University of Texas Investment Managment Co. bought a new stake in shares of Signal Genetics during the first quarter valued at approximately $1,312,000. Goldman Sachs Group Inc. bought a new stake in shares of Signal Genetics during the first quarter valued at approximately $807,000. Dowling & Yahnke LLC bought a new stake in shares of Signal Genetics during the first quarter valued at approximately $498,000. Finally, HighTower Advisors LLC bought a new stake in shares of Signal Genetics during the first quarter valued at approximately $471,000. 16.35% of the stock is owned by institutional investors and hedge funds.
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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