Chardan Capital Gives a Buy Rating to miRagen Therapeutics Inc

By Jason Carr

Chardan Capital analyst Gbola Amusa assigned a Buy rating to miRagen Therapeutics Inc (NASDAQ: MGEN) today and set a price target of $29. The company’s shares closed on Friday at $9.42.

Amusa observed:

“We see 6 positives in the MRG-106 oral presentation at EORTC The MRG-106 oral presentation at EORTC shows promising signals on the mycosis fungoides form of CTCL. On Saturday, October 13th, at the European Organisation for Research and Treatment of Cancer (EORTC) Global Task Force meeting, miRagen Therapeutics presented new interim phase I data of microRNA-155 inhibitor, MRG-106, in the mycosis fungoides (MF) form of cutaneous t-cell lymphoma (CTCL). The results showed 22/23 (96%) of MRG-106-treated patients had improvements in skin disease, when treated with either subcutaneous (subQ) or intravenous MRG-106, as measured by the maximal change in the modified Severity Weighted Assessment Tool (mSWAT) score, which measures the severity of skin disease over a patient’s body.”

According to TipRanks.com, Amusa is a 3-star analyst with an average return of 4.1% and a 52.2% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.

miRagen Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $29.

The company has a one-year high of $18 and a one-year low of $1.80. Currently, miRagen Therapeutics Inc has an average volume of 73.46K.

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Miragen Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the provision of biopharmaceutical. Its activities include discovery and development of innovative microRNA (ribonucleic acid) targeting therapies to improve human health.