HC Wainwright Reaffirms “Buy” Rating for Regulus Therapeutics (NASDAQ:RGLS)

HC Wainwright reiterated their buy rating on shares of Regulus Therapeutics (NASDAQ:RGLS) in a report released on Monday, Benzinga reports. The firm currently has a $9.00 price objective on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Regulus Therapeutics’ Q1 2024 earnings at ($0.19) EPS, Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.13) EPS and FY2024 earnings at ($0.56) EPS.

Other equities analysts have also recently issued research reports about the company. SVB Leerink started coverage on Regulus Therapeutics in a report on Monday, March 18th. They set an outperform rating and a $6.00 target price for the company. Wells Fargo & Company increased their price objective on shares of Regulus Therapeutics from $2.00 to $3.00 and gave the stock an equal weight rating in a research note on Wednesday, March 13th. Leerink Partnrs restated an outperform rating on shares of Regulus Therapeutics in a research note on Monday, March 18th. StockNews.com started coverage on shares of Regulus Therapeutics in a research note on Saturday, March 23rd. They set a hold rating for the company. Finally, Canaccord Genuity Group reduced their price objective on shares of Regulus Therapeutics from $12.00 to $11.00 and set a buy rating for the company in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $7.25.

Regulus Therapeutics Stock Performance

RGLS stock opened at $2.88 on Monday. The stock has a 50-day moving average price of $1.71 and a two-hundred day moving average price of $1.47. The stock has a market cap of $58.23 million, a PE ratio of -1.81 and a beta of 1.45. Regulus Therapeutics has a 1 year low of $0.78 and a 1 year high of $3.79.

Regulus Therapeutics (NASDAQ:RGLS) last released its earnings results on Thursday, March 21st. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.40). On average, analysts forecast that Regulus Therapeutics will post -0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Regulus Therapeutics

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in Regulus Therapeutics in the 1st quarter valued at about $8,656,000. Vanguard Group Inc. lifted its position in Regulus Therapeutics by 21.4% during the first quarter. Vanguard Group Inc. now owns 3,678,334 shares of the biopharmaceutical company’s stock worth $1,096,000 after acquiring an additional 648,121 shares during the last quarter. FMR LLC lifted its position in Regulus Therapeutics by 32.4% during the third quarter. FMR LLC now owns 2,922,600 shares of the biopharmaceutical company’s stock worth $4,033,000 after acquiring an additional 716,000 shares during the last quarter. Victory Capital Management Inc. lifted its position in Regulus Therapeutics by 16.5% during the fourth quarter. Victory Capital Management Inc. now owns 271,736 shares of the biopharmaceutical company’s stock worth $348,000 after acquiring an additional 38,529 shares during the last quarter. Finally, Exome Asset Management LLC acquired a new stake in Regulus Therapeutics during the fourth quarter worth approximately $228,000. 92.38% of the stock is currently owned by institutional investors and hedge funds.

About Regulus Therapeutics

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 RG-012, an anti-miR targeting miR-21 that is in Phase II clinical trial for the treatment of Alport syndrome, a life-threatening kidney disease; and RGLS8429, an anti-miR targeting miR-17, which is in Phase 1b clinical study for the treatment of autosomal dominant polycystic kidney disease.