H.C. Wainwright Downgrades Mirna, Inc. (MIRN) to Neutral
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H.C. Wainwright downgraded Mirna, Inc. (NASDAQ: MIRN) from Buy to Neutral with a price target of $2.00 (from $6.00). The change follows news the company halted its MRX34 trial.
"Following the voluntary stop of the MRX34 trial, we are removing MRX34 sales from our estimates and downgrading MIRN from a Buy to Neutral. We believe Mirna may yet develop a compelling microRNA-based oncology drug, but we are uncertain about the delivery technology it may use and the miRNA target it may pursue. That said, we like that Mirna has a three-year cash runway to ruminate and refine its clinical development plans," said analyst Shaunak Deepak.
Shares of Mirna, Inc. closed at $1.96 yesterday.
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