miRagen Therapeutics Inc Receives a Buy from Oppenheimer

By Austin Angelo

In a report released today, Leah R. Cann from Oppenheimer assigned a Buy rating to miRagen Therapeutics Inc (NASDAQ: MGEN), with a price target of $13. The company’s shares opened today at $8.06.

R. Cann observed:

“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.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 15.7% and a 53.7% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Crispr Therapeutics AG, and Intellia Therapeutics.

Currently, the analyst consensus on miRagen Therapeutics Inc is Strong Buy and the average price target is $15.83, representing a 96.4% upside.

In a report released today, B.Riley FBR also reiterated a Buy rating on the stock with a $15.50 price target.

The company has a one-year high of $18 and a one-year low of $6.02. Currently, miRagen Therapeutics Inc has an average volume of 181.3K.

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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. The company was founded by William S. Marshall and Bruce L. Booth on February 13, 2007 and is headquartered in Boulder, CO.