Wells Fargo & Company Downgrades Regulus Therapeutics (NASDAQ:RGLS) to Hold

Regulus Therapeutics (NASDAQ:RGLS) was downgraded by stock analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts also recently commented on RGLS. Leerink Partnrs downgraded Regulus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Leerink Partners reaffirmed a “market perform” rating and set a $7.00 price objective on shares of Regulus Therapeutics in a report on Wednesday. Canaccord Genuity Group reiterated a “hold” rating and issued a $11.00 price target (down from $28.00) on shares of Regulus Therapeutics in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Regulus Therapeutics in a research note on Friday, March 14th. Finally, Jones Trading reiterated a “hold” rating and set a $7.00 price objective (down from $8.00) on shares of Regulus Therapeutics in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Regulus Therapeutics has an average rating of “Hold” and an average price target of $8.50.

Regulus Therapeutics Stock Performance

Shares of Regulus Therapeutics stock opened at $7.85 on Wednesday. Regulus Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $8.20. The company has a market cap of $520.01 million, a P/E ratio of -7.34 and a beta of 1.03. The firm has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $1.62.

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, hitting analysts’ consensus estimates of ($0.20). During the same period last year, the business posted ($0.40) EPS. Equities research analysts forecast that Regulus Therapeutics will post -0.88 EPS for the current year.

Institutional Investors Weigh In On Regulus Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Octagon Capital Advisors LP boosted its holdings in shares of 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 valued at $7,661,000 after buying an additional 585,101 shares during the last quarter. Millennium Management LLC grew its position 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 purchasing an additional 900,743 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Regulus Therapeutics by 141.2% in the 4th quarter. JPMorgan Chase & Co. now owns 190,457 shares of the biopharmaceutical company’s stock valued at $301,000 after buying an additional 111,485 shares in the last quarter. Tyche Wealth Partners LLC increased its position in Regulus Therapeutics by 14.6% during the first quarter. Tyche Wealth Partners LLC now owns 121,589 shares of the biopharmaceutical company’s stock worth $213,000 after acquiring an additional 15,500 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Regulus Therapeutics by 20.5% during the fourth quarter. Renaissance Technologies LLC now owns 117,100 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 19,900 shares during the period. Institutional investors and hedge funds 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.