In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Miragen Therapeutics Inc (MGEN), with a price target of $19. The company’s shares closed on Friday at $3.48, close to its 52-week low of $3.09.
Cann commented:
“Data presented at ASH demonstrated cobomarsen (MRG-106) is safe and well- tolerated and has activity in the MF subset of CTCL patients, with 92% showing improvement. These final phase I data in MF support the larger controlled SOLAR trial in MF patients, which we believe could be registrational. miRagen has a pipeline of two experimental clinical therapies. The first anticipated commercial impact is from MRG-106 in 2022. 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 4-star analyst with an average return of 3.6% and a 42.8% 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.
See today’s analyst top recommended stocks >>
Based on Miragen Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $9.01 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.
