Wedbush Reiterates a Buy Rating on Miragen Therapeutics Inc (MGEN)

By Carrie Williams

In a report released today, Liana Moussatos from Wedbush reiterated a Buy rating on Miragen Therapeutics Inc (MGENResearch Report), with a price target of $24. The company’s shares closed on Friday at $2.96, close to its 52-week low of $2.20.

According to TipRanks.com, Moussatos is ranked 0 out of 5 stars with an average return of -8.6% and a 34.5% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Allena Pharmaceuticals Inc, and Aquestive Therapeutics Inc.

Currently, the analyst consensus on Miragen Therapeutics Inc is a Moderate Buy with an average price target of $18, implying a 508.1% upside from current levels. In a report issued on April 26, Oppenheimer also reiterated a Buy rating on the stock with a $12 price target.

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Based on Miragen Therapeutics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.32 million. In comparison, last year the company had a GAAP net loss of $4.66 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 pipelines include MRG-106 that focuses on the treatment of blood cancer; and MRG-201 deals with the treatment of pathological fibrosis.