Signal Genetics, Inc. (NASDAQ:MGEN)‘s stock had its “buy” rating reaffirmed by Chardan Capital in a note issued to investors on Tuesday, July 25th. They presently have a $26.00 target price on the medical research company’s stock. Chardan Capital’s price objective suggests a potential upside of 124.91% from the company’s previous close.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Signal Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine upgraded shares of Signal Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Cowen and Company began coverage on shares of Signal Genetics in a research report on Thursday, June 1st. They issued an “outperform” rating on the stock. Finally, Wedbush raised their target price on shares of Signal Genetics from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.67.
Shares of Signal Genetics (NASDAQ:MGEN) traded up 3.96% during mid-day trading on Tuesday, hitting $11.56. The company had a trading volume of 46,008 shares. The company’s market capitalization is $247.40 million. Signal Genetics has a one year low of $1.80 and a one year high of $18.00. The firm’s 50-day moving average price is $13.35 and its 200 day moving average price is $12.13.
Signal Genetics (NASDAQ:MGEN) last issued its earnings results on Friday, August 11th. The medical research company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 555.68% and a negative return on equity of 109.13%. Analysts predict that Signal Genetics will post ($1.72) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of MGEN. FMR LLC acquired a new position in shares of Signal Genetics during the first quarter worth about $38,874,000. University of Texas Investment Managment Co. purchased a new position in Signal Genetics during the first quarter valued at $1,312,000. Goldman Sachs Group Inc. bought a new position in Signal Genetics during the first quarter worth $807,000. Dowling & Yahnke LLC bought a new position in Signal Genetics during the first quarter worth $498,000. Finally, HighTower Advisors LLC bought a new position in Signal Genetics during the first quarter worth $471,000. Hedge funds and other institutional investors own 16.37% of the company’s stock.
Signal Genetics Company Profile
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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