Canaccord Genuity Group Reiterates “Buy” Rating for Regulus Therapeutics (NASDAQ:RGLS)

Canaccord Genuity Group reiterated their buy rating on shares of Regulus Therapeutics (NASDAQ:RGLS) in a report released on Monday,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 target price on shares of Regulus Therapeutics in a research note on Friday, March 14th.

Regulus Therapeutics Stock Up 1.4 %

Shares of Regulus Therapeutics stock opened at $1.40 on Monday. The business has a 50-day moving average price of $1.27 and a 200 day moving average price of $1.45. Regulus Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $3.00. The firm has a market cap of $91.70 million, a P/E ratio of -1.31 and a beta of 1.42.

Regulus Therapeutics (NASDAQ:RGLS) last issued its 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 company earned ($0.40) earnings per share. As a group, equities research analysts anticipate that Regulus Therapeutics will post -0.88 earnings per share for the current year.

Insider Transactions at Regulus Therapeutics

In other news, CEO Joseph P. Hagan sold 115,290 shares of the business’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 $145,265.40. Following the completion of the transaction, the chief executive officer now directly owns 222,572 shares in the company, valued at approximately $280,440.72. The trade was a 34.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher Ray Aker sold 38,547 shares of the business’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 value of $48,569.22. Following the transaction, the vice president now owns 54,634 shares of the company’s stock, valued at approximately $68,838.84. This represents a 41.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 223,998 shares of company stock worth $282,237. Company insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Regulus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Velan Capital Investment Management LP acquired a new stake in Regulus Therapeutics in the fourth quarter worth approximately $111,000. Octagon Capital Advisors LP increased 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 valued at $7,661,000 after buying an additional 585,101 shares in the last quarter. Millennium Management LLC increased 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 valued at $3,464,000 after buying an additional 900,743 shares in the last quarter. PEAK6 LLC bought a new position in shares of Regulus Therapeutics in the fourth quarter valued at $95,000. Finally, Barclays PLC increased its holdings in shares of Regulus Therapeutics by 13.9% in the fourth 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 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.