Wells Fargo & Company Upgrades Regulus Therapeutics (NASDAQ:RGLS) to Overweight

Wells Fargo & Company upgraded shares of Regulus Therapeutics (NASDAQ:RGLS) from an equal weight rating to an overweight rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have $6.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $3.00.

RGLS has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Regulus Therapeutics in a research report on Friday, March 14th. Canaccord Genuity Group reissued a “buy” rating and set a $28.00 price objective on shares of Regulus Therapeutics in a 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Regulus Therapeutics Stock Up 16.3 %

Shares of NASDAQ:RGLS opened at $1.50 on Thursday. Regulus Therapeutics has a 12 month low of $0.83 and a 12 month high of $2.93. The firm has a market cap of $99.36 million, a P/E ratio of -1.40 and a beta of 1.42. The company’s 50-day moving average price is $1.28 and its two-hundred day moving average price is $1.45.

Regulus Therapeutics (NASDAQ:RGLS) last issued 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 last year, the business posted ($0.40) earnings per share. As a group, equities analysts predict that Regulus Therapeutics will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Regulus Therapeutics

In related news, CEO Joseph P. Hagan bought 50,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $1.09 per share, with a total value of $54,500.00. Following the completion of the purchase, the chief executive officer now owns 260,808 shares of the company’s stock, valued at $284,280.72. This represents a 23.72 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher Ray Aker sold 38,547 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $1.26, for a total value of $48,569.22. Following the transaction, the vice president now owns 54,634 shares in the company, valued at approximately $68,838.84. This trade represents a 41.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 223,998 shares of company stock worth $282,237 in the last three months. Insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Regulus Therapeutics

Several large investors have recently bought and sold shares of RGLS. NEA Management Company LLC acquired a new stake in shares of Regulus Therapeutics during the third quarter worth about $10,154,000. Octagon Capital Advisors LP lifted its stake in Regulus Therapeutics by 13.7% in the fourth 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 in the last quarter. Millennium Management LLC boosted its holdings 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 buying an additional 900,743 shares during the period. State Street Corp raised its holdings in shares of Regulus Therapeutics by 3.5% during the third quarter. State Street Corp now owns 1,000,998 shares of the biopharmaceutical company’s stock worth $1,572,000 after acquiring an additional 33,496 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Regulus Therapeutics in the 3rd quarter valued at $1,403,000. Institutional investors own 92.38% of the company’s stock.

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.