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 note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $6.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $3.00. Wells Fargo & Company‘s price target would suggest a potential upside of 246.82% from the company’s previous close.

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

Regulus Therapeutics Stock Performance

Shares of RGLS stock opened at $1.73 on Thursday. The firm has a market capitalization of $114.60 million, a PE ratio of -1.62 and a beta of 1.42. Regulus Therapeutics has a 1 year low of $0.83 and a 1 year high of $2.91. The stock has a fifty day moving average of $1.29 and a two-hundred day moving average of $1.45.

Regulus Therapeutics (NASDAQ:RGLS) last announced its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). During the same period in the prior year, the firm posted ($0.40) EPS. Equities research analysts predict that Regulus Therapeutics will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Regulus Therapeutics

In related news, CFO Crispina Calsada sold 38,716 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 50,566 shares of the company’s stock, valued at approximately $63,713.16. The trade was a 43.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher Ray Aker sold 38,547 shares of the 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 $48,569.22. Following the completion of the sale, the vice president now owns 54,634 shares of the company’s stock, valued at approximately $68,838.84. The trade was a 41.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 223,998 shares of company stock valued at $282,237 in the last three months. 4.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Regulus Therapeutics

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

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.