Oppenheimer Sticks to Its Buy Rating for Miragen Therapeutics Inc

By Jason Carr

Oppenheimer analyst Leah R. Cann maintained a Buy rating on Miragen Therapeutics Inc (NASDAQ: MGEN) yesterday and set a price target of $19. The company’s shares closed on Friday at $7.32.

Cann noted:

“We cover miRagen Therapeutics with an Outperform rating and are increasing our price target to account for an increased average forward price-to-sales multiple of the biotechnology sector.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 26.5% and a 61.3% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Crispr Therapeutics AG, and Syros Pharmaceuticals.

Currently, the analyst consensus on Miragen Therapeutics Inc is a Strong Buy with an average price target of $16.83.

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Based on Miragen Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.66 million. In comparison, last year the company had a GAAP net loss of $7.31 million.

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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.