Regulus Therapeutics (NASDAQ:RGLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The brokerage currently has a $0.25 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 1.21% from the company’s current price.
According to Zacks, “Regulus Therapeutics Inc. is a biopharmaceutical company focused on discovering and developing drugs that target microRNAs, called microRNA therapeutics. The Company’s products aim to treat or prevent hepatitis C infections, cardiovascular disease, fibrosis, oncology, immuno-inflammatory diseases, and metabolic diseases. Regulus Therapeutics Inc. is based in La Jolla, California. “
RGLS stock opened at $0.25 on Thursday. The business’s fifty day simple moving average is $0.36 and its two-hundred day simple moving average is $0.57. Regulus Therapeutics has a twelve month low of $0.23 and a twelve month high of $2.32. The firm has a market cap of $21.50 million, a price-to-earnings ratio of -0.85 and a beta of 1.97.
Several institutional investors have recently made changes to their positions in RGLS. Morgan Stanley increased its stake in shares of Regulus Therapeutics by 2,799.7% during the first quarter. Morgan Stanley now owns 163,251 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 157,621 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Regulus Therapeutics by 300.0% during the second quarter. Commonwealth Equity Services LLC now owns 80,000 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 60,000 shares during the period. Lido Advisors LLC purchased a new position in shares of Regulus Therapeutics during the second quarter valued at $47,000. Geode Capital Management LLC increased its stake in shares of Regulus Therapeutics by 54.3% during the second quarter. Geode Capital Management LLC now owns 589,196 shares of the biopharmaceutical company’s stock valued at $479,000 after buying an additional 207,304 shares during the period. Finally, State Street Corp purchased a new position in shares of Regulus Therapeutics during the second quarter valued at $144,000. Hedge funds and other institutional investors own 43.14% of the company’s stock.
About Regulus Therapeutics
Regulus Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of drugs targeting microRNAs. Its two lead product candidates, RG-012 and RGLS4326, are in clinical development. RG-012 is an anti-miR targeting miR-21 in Phase II clinical trial for the treatment of Alport syndrome, a life-threatening kidney disease.
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