Miragen Therapeutics, Inc. (MGEN) Expected to Post Quarterly Sales of $1.22 Million
Analysts expect that Miragen Therapeutics, Inc. (NASDAQ:MGEN) will report sales of $1.22 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Miragen Therapeutics’ earnings. The highest sales estimate is $1.63 million and the lowest is $800,000.00. Miragen Therapeutics reported sales of $760,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 60.5%. The firm is scheduled to announce its next earnings report on Friday, March 23rd.
On average, analysts expect that Miragen Therapeutics will report full year sales of $1.22 million for the current fiscal year, with estimates ranging from $3.60 million to $4.60 million. For the next fiscal year, analysts anticipate that the business will post sales of $3.44 million per share, with estimates ranging from $1.50 million to $6.52 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Miragen Therapeutics.
A number of research analysts recently issued reports on MGEN shares. Chardan Capital reiterated a “buy” rating on shares of Miragen Therapeutics in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Tuesday, January 9th. B. Riley started coverage on shares of Miragen Therapeutics in a research note on Friday, January 5th. They issued a “buy” rating and a $15.50 target price on the stock. Wedbush reiterated a “buy” rating and issued a $19.00 target price on shares of Miragen Therapeutics in a research note on Friday, December 1st. Finally, Cann reiterated a “buy” rating and issued a $13.00 target price on shares of Miragen Therapeutics in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Miragen Therapeutics has an average rating of “Buy” and a consensus price target of $16.46.
In related news, Director Bruce Booth purchased 545,454 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average cost of $5.50 per share, for a total transaction 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 on Wednesday, December 20th. The stock was sold at an average price of $8.00, for a total transaction of $96,000.00. The disclosure for this sale can be found here. Company insiders own 44.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MGEN. Seaward Management Limited Partnership acquired a new stake in Miragen Therapeutics in the 3rd quarter worth $117,000. Russell Investments Group Ltd. acquired a new stake in Miragen Therapeutics in the 3rd quarter worth $147,000. Wells Fargo & Company MN grew its position in Miragen Therapeutics by 203.8% in 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 last quarter. BSW Wealth Partners acquired a new stake in Miragen Therapeutics in the 3rd quarter worth $203,000. Finally, SG Americas Securities LLC acquired a new stake in Miragen Therapeutics in the 3rd quarter worth $250,000. Institutional investors own 22.59% of the company’s stock.
Miragen Therapeutics 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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