Regulus Therapeutics (NASDAQ:RGLS) Stock Rating Upgraded by Wells Fargo & Company

Regulus Therapeutics (NASDAQ:RGLS) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $6.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $3.00. Wells Fargo & Company‘s target price would indicate a potential upside of 246.82% from the company’s current price.

A number of other brokerages have also recently weighed in on RGLS. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Regulus Therapeutics in a report on Friday, March 14th. Canaccord Genuity Group reissued a “buy” rating and set a $28.00 target price on shares of Regulus Therapeutics in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Regulus Therapeutics Price Performance

Shares of NASDAQ:RGLS opened at $1.73 on Thursday. The stock has a market capitalization of $114.60 million, a P/E ratio of -1.62 and a beta of 1.42. The business has a 50-day moving average of $1.29 and a two-hundred day moving average of $1.45. Regulus Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $2.91.

Regulus Therapeutics (NASDAQ:RGLS) last issued its quarterly earnings data 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 period in the prior year, the company earned ($0.40) earnings per share. As a group, research analysts expect that Regulus Therapeutics will post -0.88 EPS for the current fiscal year.

Insider Activity

In other Regulus Therapeutics news, CEO Joseph P. Hagan sold 115,290 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $1.26, for a total value of $145,265.40. Following the completion of the sale, the chief executive officer now directly owns 222,572 shares of the company’s stock, valued at $280,440.72. This represents a 34.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Preston Klassen sold 31,445 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $1.26, for a total transaction of $39,620.70. Following the transaction, the insider now owns 36,055 shares in the company, valued at approximately $45,429.30. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 223,998 shares of company stock valued at $282,237. 4.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regulus Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Regulus Therapeutics by 13.9% in the fourth 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. Renaissance Technologies LLC raised its stake in shares of Regulus Therapeutics by 20.5% in the 4th quarter. Renaissance Technologies LLC now owns 117,100 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 19,900 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Regulus Therapeutics during the 3rd quarter worth about $46,000. State Street Corp boosted its position in shares of Regulus Therapeutics by 3.5% during the 3rd quarter. State Street Corp now owns 1,000,998 shares of the biopharmaceutical company’s stock valued at $1,572,000 after acquiring an additional 33,496 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Regulus Therapeutics by 10.4% during the 3rd quarter. Victory Capital Management Inc. now owns 398,866 shares of the biopharmaceutical company’s stock valued at $626,000 after acquiring an additional 37,480 shares in the last quarter. 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.