Regulus Therapeutics (NASDAQ:RGLS) Raised to “Overweight” at Wells Fargo & Company

Regulus Therapeutics (NASDAQ:RGLS) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, March 27th, MarketBeat Ratings reports. The brokerage presently has a $6.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $3.00. Wells Fargo & Company‘s price objective points to a potential upside of 235.20% from the stock’s current price.

Several other research firms also recently commented on RGLS. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Regulus Therapeutics in a research report on Friday, March 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Regulus Therapeutics in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Regulus Therapeutics Stock Down 8.7 %

Regulus Therapeutics stock traded down $0.17 during midday trading on Thursday, reaching $1.79. The company’s stock had a trading volume of 346,902 shares, compared to its average volume of 655,167. Regulus Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $2.90. The business has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.45. The company has a market cap of $118.57 million, a P/E ratio of -1.67 and a beta of 1.42.

Regulus Therapeutics (NASDAQ:RGLS) last announced its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). During the same quarter in the previous year, the firm earned ($0.40) earnings per share. As a group, equities analysts forecast that Regulus Therapeutics will post -0.88 earnings per share for the current year.

Insider Buying and Selling at Regulus Therapeutics

In related news, CFO Crispina Calsada sold 38,716 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $1.26, for a total value of $48,782.16. Following the sale, the chief financial officer now owns 50,566 shares of the company’s stock, valued at approximately $63,713.16. This represents a 43.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph P. Hagan bought 50,000 shares of Regulus Therapeutics stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $1.09 per share, for a total transaction of $54,500.00. Following the completion of the acquisition, the chief executive officer now owns 260,808 shares in the company, valued at $284,280.72. This represents a 23.72 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 223,998 shares of company stock valued at $282,237. Corporate insiders own 4.35% of the company’s stock.

Institutional Trading of Regulus Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Velan Capital Investment Management LP acquired a new stake in Regulus Therapeutics during the 4th quarter worth approximately $111,000. Octagon Capital Advisors LP raised its holdings in shares of Regulus Therapeutics by 13.7% during the 4th quarter. Octagon Capital Advisors LP now owns 4,848,802 shares of the biopharmaceutical company’s stock valued at $7,661,000 after buying an additional 585,101 shares during the period. Millennium Management LLC boosted its stake in shares of Regulus Therapeutics by 69.7% in the fourth quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company’s stock valued at $3,464,000 after purchasing an additional 900,743 shares during the period. PEAK6 LLC purchased a new stake in shares of Regulus Therapeutics during the fourth quarter worth about $95,000. Finally, Barclays PLC raised its position in shares of Regulus Therapeutics by 13.9% in the 4th quarter. Barclays PLC now owns 96,247 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 11,770 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors and hedge funds.

About Regulus Therapeutics

Regulus Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on discovery and development of drugs that targets microRNAs to treat a range of diseases in the United States. Its product candidates include RGLS8429, an anti-miR next generation oligonucleotide targeting miR-17, which is in Phase 1b clinical trial for the treatment of autosomal dominant polycystic kidney disease.