Regulus Therapeutics (NASDAQ:RGLS) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Regulus Therapeutics (NASDAQ:RGLS) in a research note published on Monday,Benzinga reports. Canaccord Genuity Group currently has a $28.00 price objective on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Regulus Therapeutics in a report on Friday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Regulus Therapeutics has an average rating of “Moderate Buy” and an average price target of $12.75.

Regulus Therapeutics Price Performance

Shares of NASDAQ RGLS opened at $1.37 on Monday. Regulus Therapeutics has a 1 year low of $0.83 and a 1 year high of $3.00. The company has a 50 day simple moving average of $1.28 and a 200 day simple moving average of $1.46. The firm has a market cap of $89.74 million, a PE ratio of -1.28 and a beta of 1.42.

Regulus Therapeutics (NASDAQ:RGLS) last released its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). During the same quarter in the prior year, the business posted ($0.40) EPS. As a group, research analysts anticipate that Regulus Therapeutics will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Regulus Therapeutics

In other news, VP Christopher Ray Aker sold 38,547 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $1.26, for a total transaction of $48,569.22. Following the completion of the sale, the vice president now owns 54,634 shares of the company’s stock, valued at $68,838.84. This trade represents a 41.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Preston Klassen sold 31,445 shares of the firm’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 transaction of $39,620.70. Following the sale, the insider now directly owns 36,055 shares of the company’s stock, valued at approximately $45,429.30. This trade represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 223,998 shares of company stock valued at $282,237 in the last quarter. 4.35% of the stock is currently owned by company insiders.

Institutional Trading of Regulus Therapeutics

Several hedge funds have recently bought and sold shares of RGLS. Victory Capital Management Inc. grew its position in Regulus Therapeutics by 10.4% in the 3rd quarter. Victory Capital Management Inc. now owns 398,866 shares of the biopharmaceutical company’s stock valued at $626,000 after purchasing an additional 37,480 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Regulus Therapeutics in the 3rd quarter valued at $204,000. NEA Management Company LLC acquired a new stake in Regulus Therapeutics in the 3rd quarter valued at $10,154,000. Point72 Asset Management L.P. acquired a new stake in Regulus Therapeutics in the 3rd quarter valued at $1,403,000. Finally, State Street Corp grew its position in Regulus Therapeutics by 3.5% in the 3rd quarter. State Street Corp now owns 1,000,998 shares of the biopharmaceutical company’s stock valued at $1,572,000 after purchasing an additional 33,496 shares during the period. Institutional investors and hedge funds own 92.38% of the company’s stock.

Regulus Therapeutics Company Profile

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.