Regulus Therapeutics’ (RGLS) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Regulus Therapeutics (NASDAQ:RGLS) in a report issued on Wednesday morning, Marketbeat.com reports. They currently have a $11.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $28.00.

RGLS has been the topic of several other reports. Jones Trading reissued a “hold” rating and set a $7.00 price objective (down from $8.00) on shares of Regulus Therapeutics in a report on Wednesday. Wells Fargo & Company raised Regulus Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $3.00 to $6.00 in a research report on Thursday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Regulus Therapeutics in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.50.

Regulus Therapeutics Price Performance

RGLS opened at $7.85 on Wednesday. The stock’s fifty day moving average is $2.11 and its two-hundred day moving average is $1.66. The company has a market capitalization of $520.01 million, a P/E ratio of -7.34 and a beta of 1.03. Regulus Therapeutics has a 52 week low of $0.83 and a 52 week high of $8.20.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Regulus Therapeutics by 285.2% during the third quarter. Barclays PLC now owns 84,477 shares of the biopharmaceutical company’s stock worth $132,000 after acquiring an additional 62,549 shares during the last quarter. JPMorgan Chase & Co. grew its position in Regulus Therapeutics by 193.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,972 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 52,059 shares during the last quarter. State Street Corp increased its stake in Regulus Therapeutics by 3.5% during the 3rd quarter. State Street Corp now owns 1,000,998 shares of the biopharmaceutical company’s stock valued at $1,572,000 after purchasing an additional 33,496 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Regulus Therapeutics in the third quarter worth $46,000. Finally, PEAK6 LLC acquired a new stake in shares of Regulus Therapeutics during the fourth quarter worth $95,000. 92.38% of the stock is 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.