Miragen Therapeutics (NASDAQ:MGEN)‘s stock had its “buy” rating restated by analysts at Cann in a research report issued to clients and investors on Friday, February 2nd. They currently have a $13.00 target price on the medical research company’s stock. Cann’s price objective would suggest a potential upside of 131.73% from the stock’s current price.
The analysts wrote, “MiRagen Therapeutics announced today positive new interim data from its phase I clinical trial of MRG-106 in patients with the mycosis fungoides (MF) form of cutaneous T-cell lymphoma (CTCL) will be presented on February 2, 2018, at the 10th Annual T-cell Lymphoma Forum in La Jolla, California. These positive results support MiRagen’s plans to initiate a phase II study of MRG-106 in CTCL in the second half of 2018. The data released today, along with the planned phase II trial design support our expectation that MRG-106 will be able to proceed to a registration phase II study, avoiding phase III trials.””
A number of other research analysts also recently issued reports on MGEN. Chardan Capital reaffirmed a “buy” rating and set a $29.00 price target on shares of Miragen Therapeutics in a report on Monday, October 16th. Zacks Investment Research raised Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, October 19th. Wedbush reiterated a “buy” rating and set a $19.00 price objective on shares of Miragen Therapeutics in a research report on Friday, December 1st. B. Riley started coverage on Miragen Therapeutics in a research report on Friday, January 5th. They set a “buy” rating and a $15.50 price objective for the company. Finally, Oppenheimer started coverage on Miragen Therapeutics in a research report on Friday, January 12th. They issued an “outperform” rating and a $13.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.46.
In related news, Director Bruce Booth acquired 545,454 shares of the stock in a transaction dated Tuesday, February 13th. The stock was acquired at an average cost of $5.50 per share, with a total value of $2,999,997.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas E. Hughes sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $8.00, for a total value of $96,000.00. The disclosure for this sale can be found here. 44.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of MGEN. Seaward Management Limited Partnership bought a new stake in shares of Miragen Therapeutics during the 3rd quarter worth approximately $117,000. Russell Investments Group Ltd. bought a new stake in shares of Miragen Therapeutics during the 3rd quarter worth approximately $147,000. Wells Fargo & Company MN increased its holdings in Miragen Therapeutics by 203.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,804 shares of the medical research company’s stock worth $185,000 after purchasing an additional 11,943 shares during the period. BSW Wealth Partners purchased a new position in Miragen Therapeutics during the 3rd quarter worth $203,000. Finally, SG Americas Securities LLC purchased a new position in Miragen Therapeutics during the 3rd quarter worth $250,000. 22.59% of the stock is owned by hedge funds and other institutional investors.
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About Miragen Therapeutics
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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