Miragen Therapeutics Inc (MGEN) Receives a Buy from Oppenheimer

By Carrie Williams

In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Miragen Therapeutics Inc (MGENResearch Report), with a price target of $19. The company’s shares opened today at $3.53.

Cann observed:

“The data presented today and this past December at ASH and at 2018 ASCO, in CTCL support our expectation that MRG-106 could be a commercial drug in 2022. The results for cobomarsen presented at the T-Cell Forum remain encouraging for the CTCL and ATLL settings, and show encouraging signals in DLBCL. Data in the CTCL setting showed a 50% ORR4, comparing favorably to the reference data, at the dose level being used in the pivotal phase II SOLAR study. Data in the ATLL are even better than the results presented at 2018 ASCO last June. Early results in the DLBCL setting are very encouraging.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 10.6% and a 52.3% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Miragen Therapeutics Inc with a $15.83 average price target, representing a 348.4% upside. In a report issued on December 31, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $18.50 price target.

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The company has a one-year high of $9.49 and a one-year low of $2.20. Currently, Miragen Therapeutics Inc has an average volume of 230.1K.

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Miragen Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development of proprietary RNA-targeted therapeutics. Its product candidates, MRG-106 focuses on the treatment of cancer; and MRG-201 deals with the treatment of pathological fibrosis.