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

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

RGLS has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Regulus Therapeutics in a report on Friday, March 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $28.00 target price on shares of Regulus Therapeutics in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Regulus Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $12.75.

Regulus Therapeutics Stock Performance

RGLS stock opened at $1.50 on Thursday. The firm has a 50 day simple moving average of $1.28 and a 200 day simple moving average of $1.45. Regulus Therapeutics has a 52 week low of $0.83 and a 52 week high of $2.93. The stock has a market cap of $99.36 million, a P/E ratio of -1.40 and a beta of 1.42.

Regulus Therapeutics (NASDAQ:RGLS) last posted its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). During the same quarter last year, the company earned ($0.40) earnings per share. Sell-side analysts predict that Regulus Therapeutics will post -0.88 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joseph P. Hagan acquired 50,000 shares of Regulus Therapeutics stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $1.09 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Crispina Calsada sold 38,716 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $1.26, for a total transaction of $48,782.16. Following the completion of the transaction, the chief financial officer now owns 50,566 shares in the company, valued at $63,713.16. The trade was a 43.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,998 shares of company stock worth $282,237. 4.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regulus Therapeutics

Several hedge funds have recently modified their holdings of the business. Barclays PLC raised its stake in Regulus Therapeutics by 13.9% during 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 during the last quarter. Renaissance Technologies LLC lifted its holdings in Regulus Therapeutics by 20.5% during the 4th quarter. Renaissance Technologies LLC now owns 117,100 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 19,900 shares during the last quarter. Jane Street Group LLC acquired a new position in Regulus Therapeutics in the third quarter valued at about $46,000. State Street Corp grew its stake in 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 buying an additional 33,496 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Regulus Therapeutics by 10.4% during the third quarter. Victory Capital Management Inc. now owns 398,866 shares of the biopharmaceutical company’s stock worth $626,000 after buying an additional 37,480 shares in the last quarter. 92.38% of the stock is owned by 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.