Regulus Therapeutics (NASDAQ:RGLS) PT Raised to $28.00 at Canaccord Genuity Group

Regulus Therapeutics (NASDAQ:RGLS) had its price target increased by Canaccord Genuity Group from $11.00 to $28.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock.

RGLS has been the topic of several other research reports. SVB Leerink started coverage on shares of Regulus Therapeutics in a research report on Monday, March 18th. They set an “outperform” rating and a $6.00 price target on the stock. HC Wainwright upped their target price on shares of Regulus Therapeutics from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com initiated coverage on shares of Regulus Therapeutics in a research report on Tuesday, April 16th. They issued a “sell” rating on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Regulus Therapeutics in a research report on Monday, March 18th. Finally, Wells Fargo & Company increased their price target on shares of Regulus Therapeutics from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.75.

Regulus Therapeutics Stock Down 4.7 %

Regulus Therapeutics stock opened at $2.04 on Tuesday. Regulus Therapeutics has a 52-week low of $1.08 and a 52-week high of $3.79. The firm has a market capitalization of $133.56 million, a price-to-earnings ratio of -1.40 and a beta of 1.64. The company has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $1.91.

Regulus Therapeutics (NASDAQ:RGLS) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.14). On average, research analysts anticipate that Regulus Therapeutics will post -0.59 EPS for the current fiscal year.

Institutional Trading of Regulus Therapeutics

A number of large investors have recently made changes to their positions in RGLS. NEA Management Company LLC purchased a new position in Regulus Therapeutics in the first quarter valued at approximately $18,627,000. RA Capital Management L.P. purchased a new position in Regulus Therapeutics in the first quarter valued at approximately $18,000,000. Vivo Capital LLC purchased a new position in Regulus Therapeutics in the first quarter valued at approximately $14,400,000. FMR LLC increased its stake in Regulus Therapeutics by 32.4% in the third quarter. FMR LLC now owns 2,922,600 shares of the biopharmaceutical company’s stock valued at $4,033,000 after purchasing an additional 716,000 shares during the last quarter. Finally, CVI Holdings LLC acquired a new stake in shares of Regulus Therapeutics in the first quarter valued at approximately $4,050,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.

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.