Signal Genetics, Inc. (MGEN) Earns Buy Rating from Wedbush
Several other brokerages have also recently issued reports on MGEN. Chardan Capital reaffirmed a buy rating and issued a $29.00 price objective (up previously from $26.00) on shares of Signal Genetics in a research note on Monday, August 14th. ValuEngine raised shares of Signal Genetics from a sell rating to a hold rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Signal Genetics from a sell rating to a hold rating in a research note on Wednesday, July 12th. Finally, Cowen and Company began coverage on shares of Signal Genetics in a research note on Thursday, June 1st. They issued an outperform rating on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $15.25.
Shares of Signal Genetics (NASDAQ:MGEN) opened at 9.87 on Friday. The stock has a 50 day moving average of $13.12 and a 200 day moving average of $12.15. Signal Genetics has a 52-week low of $1.80 and a 52-week high of $18.00. The firm’s market capitalization is $212.05 million.
Signal Genetics (NASDAQ:MGEN) last announced its quarterly earnings data on Friday, August 11th. The medical research company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.13. The company had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.46 million. Signal Genetics had a negative net margin of 796.06% and a negative return on equity of 84.64%. On average, analysts predict that Signal Genetics will post ($1.13) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGEN. Goldman Sachs Group Inc. purchased a new position in Signal Genetics during the first quarter valued at $807,000. HighTower Advisors LLC purchased a new position in Signal Genetics during the first quarter valued at $471,000. FMR LLC purchased a new position in Signal Genetics during the first quarter valued at $38,874,000. Finally, Dowling & Yahnke LLC purchased a new position in Signal Genetics during the first quarter valued at $498,000. 16.50% of the stock is currently owned by institutional investors and hedge funds.
Signal Genetics Company Profile
Signal Genetics, Inc is a commercial stage, molecular genetic diagnostic company. The Company is focused on providing diagnostic services that help physicians to make decisions concerning the care of cancer patients. The Company’s diagnostic service is the Myeloma Prognostic Risk Signature (MyPRS) test.
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