Mirna Therapeutics (MIRN): Cutting PT After The MRX34 Program Was Terminated - Leerink
- Energy weighs on S&P, Dow; techs boost Nasdaq
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
- GoDaddy (GDDY) to Acquire Host Europe Group in ~$1.8B Deal
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Leerink Partners analyst, Michael Schmidt, reiterated his Market Perform rating on shares of Mirna Therapeutics. (NASDAQ: MIRN) after the company announced termination of the ongoing Phase I trial and all planned future trials of lead product candidate MRX34 following the occurrence of additional severe adverse events in the study.
The price target drops to $1.50 from $4.00. MIRN ended 2Q16 with $73M in cash, and mgmt. guided to ~$6M near-term cash burn per quarter. This new PT reflects MIRN's estimated cash balance in 1 year.
Shares of Mirna, Inc. closed at $2.46 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
- UPDATE: Stifel Upgrades Green Plains Partners LP (GPP) to Buy
- CVS Health (CVS) Added to US 1 List at BofA/ML
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!