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: $1.54 --0%

Rating Summary:
    1 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
Trade MIRN Now!
Join SI Premium – FREE

Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk 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.

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.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Add Your Comment