Equities research analysts expect Miragen Therapeutics Inc (NASDAQ:MGEN) to post sales of $1.89 million for the current quarter, Zacks reports. Three analysts have made estimates for Miragen Therapeutics’ earnings, with the highest sales estimate coming in at $2.20 million and the lowest estimate coming in at $1.30 million. Miragen Therapeutics posted sales of $1.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 14th.

On average, analysts expect that Miragen Therapeutics will report full-year sales of $9.93 million for the current year, with estimates ranging from $7.00 million to $12.33 million. For the next financial year, analysts expect that the company will post sales of $7.28 million, with estimates ranging from $5.50 million to $10.73 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Miragen Therapeutics.

Miragen Therapeutics (NASDAQ:MGEN) last posted its quarterly earnings results on Tuesday, August 7th. The medical research company reported ($0.29) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.29). Miragen Therapeutics had a negative net margin of 261.47% and a negative return on equity of 46.99%. The firm had revenue of $2.18 million for the quarter, compared to analyst estimates of $0.83 million.

Several equities analysts have recently weighed in on MGEN shares. Zacks Investment Research raised shares of Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research report on Wednesday, July 18th. Cann reissued a “buy” rating and issued a $19.00 price objective on shares of Miragen Therapeutics in a research report on Monday, August 6th. ValuEngine raised shares of Miragen Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Finally, Wedbush reissued a “buy” rating on shares of Miragen Therapeutics in a research report on Thursday, June 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $16.86.

Institutional investors and hedge funds have recently modified their holdings of the company. Opaleye Management Inc. bought a new position in shares of Miragen Therapeutics in the first quarter valued at about $7,430,000. BSW Wealth Partners acquired a new position in shares of Miragen Therapeutics in the second quarter valued at about $143,000. BlackRock Inc. grew its stake in shares of Miragen Therapeutics by 40.8% in the first quarter. BlackRock Inc. now owns 809,320 shares of the medical research company’s stock valued at $5,673,000 after acquiring an additional 234,403 shares in the last quarter. Northern Trust Corp grew its stake in shares of Miragen Therapeutics by 26.2% in the first quarter. Northern Trust Corp now owns 171,264 shares of the medical research company’s stock valued at $1,201,000 after acquiring an additional 35,543 shares in the last quarter. Finally, CVI Holdings LLC acquired a new position in shares of Miragen Therapeutics in the first quarter valued at about $646,000. 37.03% of the stock is currently owned by institutional investors.

NASDAQ MGEN traded down $0.01 on Wednesday, hitting $5.58. 98,972 shares of the stock were exchanged, compared to its average volume of 124,104. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.15. Miragen Therapeutics has a 52 week low of $5.01 and a 52 week high of $10.72. The firm has a market capitalization of $171.04 million, a P/E ratio of -4.04 and a beta of 1.32.

About Miragen Therapeutics

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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