Canaccord Genuity Group Reaffirms "Buy" Rating for Regulus Therapeutics (NASDAQ:RGLS)

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report)'s stock had its "buy" rating reissued by Canaccord Genuity Group in a research report issued on Monday,Benzinga reports. They currently have a $28.00 price target on the biopharmaceutical company's stock.

Separately, HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Regulus Therapeutics in a research report on Friday, March 14th.

Regulus Therapeutics Stock Up 0.7 %

Shares of Regulus Therapeutics stock traded up $0.01 during trading hours on Monday, reaching $1.37. 263,677 shares of the stock traded hands, compared to its average volume of 511,869. Regulus Therapeutics has a one year low of $0.83 and a one year high of $3.00. The firm has a market capitalization of $90.75 million, a price-to-earnings ratio of -1.28 and a beta of 1.42. The company has a 50 day moving average price of $1.27 and a 200 day moving average price of $1.45.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). During the same period in the previous year, the firm earned ($0.40) EPS. Sell-side analysts anticipate that Regulus Therapeutics will post -0.88 earnings per share for the current year.

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Insiders Place Their Bets

In related news, CEO Joseph P. Hagan bought 50,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $1.09 per share, with a total value of $54,500.00. Following the completion of the acquisition, the chief executive officer now owns 260,808 shares of the company's stock, valued at $284,280.72. This represents a 23.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Crispina Calsada sold 38,716 shares of the firm's stock in a transaction 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 $63,713.16. The trade was a 43.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 223,998 shares of company stock worth $282,237 in the last three months. 4.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regulus Therapeutics

Several institutional investors have recently added to or reduced their stakes in RGLS. Jane Street Group LLC purchased a new stake in shares of Regulus Therapeutics during the 3rd quarter worth approximately $46,000. PEAK6 LLC bought a new stake in Regulus Therapeutics in the fourth quarter worth $95,000. Velan Capital Investment Management LP purchased a new stake in Regulus Therapeutics during the fourth quarter valued at $111,000. JPMorgan Chase & Co. lifted its position in Regulus Therapeutics by 193.4% during the third quarter. JPMorgan Chase & Co. now owns 78,972 shares of the biopharmaceutical company's stock valued at $124,000 after purchasing an additional 52,059 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Regulus Therapeutics by 285.2% in the 3rd quarter. Barclays PLC now owns 84,477 shares of the biopharmaceutical company's stock worth $132,000 after buying an additional 62,549 shares in the last quarter. Hedge funds and other 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.