Regulus Therapeutics (NASDAQ:RGLS) Reaches New 52-Week High - Still a Buy?

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $8.28 and last traded at $8.24, with a volume of 2027354 shares changing hands. The stock had previously closed at $8.10.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RGLS shares. Wells Fargo & Company restated an "equal weight" rating and set a $9.00 price objective on shares of Regulus Therapeutics in a research report on Thursday, May 1st. Wall Street Zen started coverage on shares of Regulus Therapeutics in a research report on Sunday, May 18th. They set a "sell" rating on the stock. HC Wainwright restated a "buy" rating and set a $10.00 price objective on shares of Regulus Therapeutics in a research report on Friday, March 14th. Jones Trading restated a "hold" rating and set a $7.00 price objective (down previously from $8.00) on shares of Regulus Therapeutics in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group reissued a "hold" rating and issued a $11.00 target price (down previously from $28.00) on shares of Regulus Therapeutics in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.50.

Regulus Therapeutics Stock Up 1.0%

The firm has a 50 day moving average price of $5.48 and a 200 day moving average price of $2.83. The stock has a market cap of $574.64 million, a P/E ratio of -7.76 and a beta of 0.35.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.14. Equities analysts predict that Regulus Therapeutics Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Preston Klassen acquired 12,000 shares of Regulus Therapeutics stock in a transaction on Tuesday, June 3rd. The shares were acquired at an average price of $7.99 per share, with a total value of $95,880.00. Following the purchase, the insider now directly owns 48,055 shares in the company, valued at $383,959.45. The trade was a 33.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.35% of the company's stock.

Hedge Funds Weigh In On Regulus Therapeutics

Several large investors have recently modified their holdings of the stock. Barclays PLC boosted its stake in shares of Regulus Therapeutics by 13.9% during the 4th quarter. Barclays PLC now owns 96,247 shares of the biopharmaceutical company's stock worth $152,000 after purchasing an additional 11,770 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Regulus Therapeutics by 141.2% during the 4th quarter. JPMorgan Chase & Co. now owns 190,457 shares of the biopharmaceutical company's stock worth $301,000 after purchasing an additional 111,485 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Regulus Therapeutics by 69.7% during the 4th quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company's stock worth $3,464,000 after purchasing an additional 900,743 shares during the last quarter. Velan Capital Investment Management LP purchased a new position in shares of Regulus Therapeutics during the fourth quarter worth $111,000. Finally, Octagon Capital Advisors LP raised its holdings in shares of Regulus Therapeutics by 13.7% during the fourth quarter. Octagon Capital Advisors LP now owns 4,848,802 shares of the biopharmaceutical company's stock worth $7,661,000 after purchasing an additional 585,101 shares during the last quarter. 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.