Oppenheimer Thinks Miragen Therapeutics Inc’s Stock is Going to Recover

By Austin Angelo

In a report released yesterday, 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 closed yesterday at $4.37, close to its 52-week low of $3.85.

Cann commented:

“Loss per share was $0.29 and was 13.9% higher than our estimated loss of $0.26. Revenue of $0.9 million was lower than our estimated $2.2 million due to timing of collaboration revenue. Estimated operating expenses of $10.1 million were in line with our estimate. Net interest income was slightly higher than estimated, as were shares outstanding.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 3.7% and a 40.3% 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 Moderate Buy analyst consensus rating for Miragen Therapeutics Inc with a $19 average price target.

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Based on Miragen Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $8.71 million. In comparison, last year the company had a GAAP net loss of $5.83 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGEN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.