Mirna Therapeutics (MIRN): Cutting PT After The MRX34 Program Was Terminated - Leerink

September 21, 2016 9:26 AM EDT
Get Alerts MIRN Hot Sheet
Price: $2.15 +4.88%

Rating Summary:
    1 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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.

For an analyst ratings summary and ratings history on Mirna, Inc. click here. For more ratings news on Mirna, Inc. click here.

Shares of Mirna, Inc. closed at $2.46 yesterday.

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