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

Regulus Therapeutics (NASDAQ:RGLS) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat reports. The brokerage currently has a $6.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $3.00. Wells Fargo & Company‘s price objective indicates a potential upside of 248.72% from the stock’s previous close.

RGLS has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Regulus Therapeutics in a research report on Friday, March 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $28.00 price target on shares of Regulus Therapeutics in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, Regulus Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Regulus Therapeutics Stock Performance

Shares of RGLS traded up $0.43 during mid-day trading on Thursday, hitting $1.72. The company’s stock had a trading volume of 27,909,118 shares, compared to its average volume of 612,908. Regulus Therapeutics has a one year low of $0.83 and a one year high of $3.00. The stock’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.45. The firm has a market capitalization of $113.98 million, a PE ratio of -1.61 and a beta of 1.42.

Regulus Therapeutics (NASDAQ:RGLS) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). During the same quarter in the prior year, the company posted ($0.40) EPS. Analysts expect that Regulus Therapeutics will post -0.88 EPS for the current fiscal year.

Insider Transactions at Regulus Therapeutics

In other news, CEO Joseph P. Hagan sold 115,290 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was 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 in the company, valued at approximately $280,440.72. This trade represents a 34.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Preston Klassen sold 31,445 shares of the company’s stock in a transaction that occurred on 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 $45,429.30. The trade was a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 223,998 shares of company stock valued at $282,237. Corporate insiders own 4.35% of the company’s stock.

Institutional Trading of Regulus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Velan Capital Investment Management LP bought a new stake in shares of Regulus Therapeutics during the fourth quarter worth approximately $111,000. Octagon Capital Advisors LP grew its holdings in Regulus Therapeutics by 13.7% during the 4th quarter. Octagon Capital Advisors LP now owns 4,848,802 shares of the biopharmaceutical company’s stock worth $7,661,000 after acquiring an additional 585,101 shares during the period. Millennium Management LLC raised its position in shares of Regulus Therapeutics by 69.7% during the 4th quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company’s stock valued at $3,464,000 after acquiring an additional 900,743 shares during the last quarter. PEAK6 LLC bought a new position in shares of Regulus Therapeutics in the 4th quarter worth $95,000. Finally, Barclays PLC grew its stake in shares of Regulus Therapeutics by 13.9% during the fourth quarter. Barclays PLC now owns 96,247 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 11,770 shares during the period. 92.38% of the stock is currently owned by institutional investors and hedge funds.

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.