Miragen Therapeutics Inc Gets a Buy Rating from Oppenheimer


In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Miragen Therapeutics Inc (NASDAQ: MGEN), with a price target of $13. The company’s shares closed yesterday at $7.43.

Cann noted:

“miRagen has a pipeline of two experimental clinical therapies. The first anticipated commercial impact is from MRG-106 (cobomarsen) in 2022. The new data for MRG-106 in ATLL are encouraging and could lead to an even faster registration path than CTCL. The data presented yesterday, and earlier this year, in CTCL support our expectation that MRG-106 will be able to proceed to a registration phase II study in this setting, avoiding phase III trials. We estimate that MiRagen’s operating losses will continue until the launch of MRG-106 in 2022, when we estimate the company will turn profitable as revenue starts to meaningfully offset losses.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 18.2% and a 61.6% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Crispr Therapeutics AG, and Syros Pharmaceuticals.

Miragen Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $16.42.

See today’s analyst top recommended stocks >>

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 $6.99 million.

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

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts