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 report released on Thursday morning, MarketBeat.com reports. They currently have $6.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $3.00.

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

Regulus Therapeutics Price Performance

RGLS opened at $1.73 on Thursday. The stock’s 50 day moving average price is $1.29 and its 200 day moving average price is $1.45. The stock has a market cap of $114.60 million, a P/E ratio of -1.62 and a beta of 1.42. Regulus Therapeutics has a 12 month low of $0.83 and a 12 month high of $2.91.

Regulus Therapeutics (NASDAQ:RGLS) last issued its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). During the same period last year, the business earned ($0.40) EPS. Equities analysts anticipate that Regulus Therapeutics will post -0.88 EPS for the current year.

Insider Transactions at Regulus Therapeutics

In other news, VP Christopher Ray Aker sold 38,547 shares of the company’s stock in a transaction on Monday, January 13th. The stock was 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 directly owns 54,634 shares of the company’s stock, valued at $68,838.84. This represents a 41.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the chief executive officer now owns 222,572 shares of the company’s stock, valued at $280,440.72. This trade represents a 34.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 223,998 shares of company stock valued at $282,237 in the last quarter. Insiders own 4.35% of the company’s stock.

Institutional Trading of Regulus Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in shares of Regulus Therapeutics in the third quarter worth about $46,000. PEAK6 LLC acquired a new position in Regulus Therapeutics in the 4th quarter worth approximately $95,000. Velan Capital Investment Management LP acquired a new position in Regulus Therapeutics in the 4th quarter worth approximately $111,000. JPMorgan Chase & Co. grew its position in Regulus Therapeutics by 193.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,972 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 52,059 shares in the last quarter. Finally, Barclays PLC raised its stake in Regulus Therapeutics by 285.2% during the 3rd quarter. Barclays PLC now owns 84,477 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 62,549 shares during the period. Institutional investors and hedge funds 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.