Insider Buying: Miragen Therapeutics Inc (MGEN) Director Acquires 10,000 Shares of Stock
Miragen Therapeutics Inc (NASDAQ:MGEN) Director Thomas E. Hughes acquired 10,000 shares of Miragen Therapeutics stock in a transaction dated Thursday, October 11th. The shares were bought at an average cost of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the director now directly owns 12,827 shares of the company’s stock, valued at approximately $61,184.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Miragen Therapeutics stock traded down $0.04 during trading on Friday, reaching $4.50. 197,822 shares of the stock were exchanged, compared to its average volume of 194,760. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.15. The firm has a market cap of $170.73 million, a P/E ratio of -3.26 and a beta of 1.33. Miragen Therapeutics Inc has a 1 year low of $4.38 and a 1 year high of $10.70.
Miragen Therapeutics (NASDAQ:MGEN) last posted its earnings results on Tuesday, August 7th. The medical research company reported ($0.29) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.29). The company had revenue of $2.18 million during the quarter, compared to analyst estimates of $0.83 million. Miragen Therapeutics had a negative net margin of 261.47% and a negative return on equity of 46.99%. Research analysts forecast that Miragen Therapeutics Inc will post -1.12 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on MGEN shares. Cann reaffirmed a “buy” rating and set a $19.00 price objective on shares of Miragen Therapeutics in a research note on Monday, August 6th. Zacks Investment Research upgraded shares of Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Wednesday, July 18th. Wedbush reiterated an “outperform” rating and set a $19.00 target price on shares of Miragen Therapeutics in a report on Monday, October 8th. Finally, ValuEngine upgraded shares of Miragen Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Miragen Therapeutics currently has a consensus rating of “Buy” and an average price target of $16.86.
Miragen Therapeutics Company Profile
Miragen Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in discovering and developing proprietary RNA-targeted therapies with a specific focus on microRNAs and their role in diseases where there is a high unmet medical need. Its three lead product candidates include cobomarsen, an inhibitor of microRNA-155, which is in Phase I clinical trial for treating cutaneous T-cell lymphoma; MRG-201, a replacement for microRNA-29, which is in Phase I clinical trial that is found at low levels in various pathological fibrotic conditions, including cutaneous, cardiac, renal, hepatic, and pulmonary fibrosis, as well as systemic sclerosis; and MRG-110, an inhibitor of microRNA-92 that is expressed in endothelial cells and has shown to accelerate the formation of new blood vessels in preclinical models of heart failure, peripheral ischemia, and dermal wounding in the United States and Japan.
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