Signal Genetics, Inc. (MGEN) Receives $15.67 Consensus Target Price from Brokerages

Shares of Signal Genetics, Inc. (NASDAQ:MGEN) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $10.50.

Several analysts have weighed in on MGEN shares. ValuEngine raised Signal Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised Signal Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Cowen and Company started coverage on Signal Genetics in a research report on Thursday, June 1st. They set an “outperform” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Signal Genetics in a research report on Tuesday, May 2nd. Finally, Chardan Capital reissued a “buy” rating on shares of Signal Genetics in a research report on Monday, August 7th.

Several hedge funds have recently modified their holdings of MGEN. FMR LLC bought a new stake in shares of Signal Genetics during the first quarter worth approximately $38,874,000. University of Texas Investment Managment Co. bought a new stake in shares of Signal Genetics during the first quarter worth approximately $1,312,000. Goldman Sachs Group Inc. bought a new stake in shares of Signal Genetics during the first quarter worth approximately $807,000. Dowling & Yahnke LLC bought a new stake in shares of Signal Genetics during the first quarter worth approximately $498,000. Finally, HighTower Advisors LLC bought a new stake in shares of Signal Genetics during the first quarter worth approximately $471,000. 16.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Signal Genetics (NASDAQ:MGEN) traded up 3.96% during midday trading on Tuesday, reaching $11.56. The company had a trading volume of 46,008 shares. Signal Genetics has a one year low of $0.12 and a one year high of $18.00. The company’s market capitalization is $247.40 million. The company has a 50 day moving average of $13.35 and a 200 day moving average of $12.13.

Signal Genetics (NASDAQ:MGEN) last posted its earnings results on Friday, August 11th. The medical research company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.13. The company had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.46 million. Signal Genetics had a negative return on equity of 109.13% and a negative net margin of 555.68%. Analysts predict that Signal Genetics will post ($1.72) EPS for the current fiscal year.

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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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