Regulus Therapeutics (NASDAQ:RGLS) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Regulus Therapeutics (NASDAQ:RGLS) in a report released on Monday morning,Benzinga reports. They currently have a $28.00 target price on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Regulus Therapeutics in a research note on Friday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Regulus Therapeutics Stock Performance

RGLS stock opened at $1.37 on Monday. The company’s 50-day simple moving average is $1.28 and its 200 day simple moving average is $1.46. Regulus Therapeutics has a 52 week low of $0.83 and a 52 week high of $3.00. The company has a market capitalization of $89.74 million, a PE ratio of -1.28 and a beta of 1.42.

Regulus Therapeutics (NASDAQ:RGLS) last released its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). During the same quarter last year, the company earned ($0.40) earnings per share. On average, analysts forecast that Regulus Therapeutics will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Joseph P. Hagan acquired 50,000 shares of Regulus Therapeutics stock in a transaction on Thursday, January 30th. The shares were purchased 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 directly owns 260,808 shares of the company’s stock, valued at approximately $284,280.72. This represents a 23.72 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Preston Klassen sold 31,445 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $1.26, for a total transaction of $39,620.70. Following the completion of the transaction, the insider now directly owns 36,055 shares of the company’s stock, valued at $45,429.30. This trade represents a 46.59 % 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 over the last ninety days. Corporate insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RGLS. NEA Management Company LLC bought a new position in shares of Regulus Therapeutics in the third quarter worth about $10,154,000. Millennium Management LLC lifted 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 worth $3,464,000 after acquiring an additional 900,743 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Regulus Therapeutics in the third quarter worth about $1,403,000. Octagon Capital Advisors LP lifted its holdings in shares of 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 worth $7,661,000 after acquiring an additional 585,101 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Regulus Therapeutics in the third quarter worth about $204,000. Institutional investors own 92.38% of the company’s stock.

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.