Regulus Gets a Hold Rating from Needham

By Austin Angelo

Needham analyst Alan Carr assigned a Hold rating to Regulus (NASDAQ: RGLS) today. The company’s shares opened today at $0.90, close to its 52-week low of $0.79.

Carr commented:

“Regulus reported 3Q17 financial results last wk and we met w/ mgmt for an update today. Both planned clinical trials of RG-012 in Alport Syndrome pts are now underway and an IND has been submitted for RGLS4326 in Autosomal Dominant Polycystic Kidney Disease. Mgmt has identified male X-linked Alport Syndrome as target pt population for clinical development going forward, due to rapid and homogeneous disease progression. We expect top-line results from 10- patient RG-012 biopsy trial early next yr and from 40-patient RG-012 HERA Phase 2 efficacy trial in early 2019. Maintain HOLD, awaiting more data from lead RG-012 program, but also note encouraging progression of platform/ pipeline behind it.”

According to TipRanks.com, Carr is a 4-star analyst with an average return of 6.7% and a 42.7% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Ionis Pharmaceuticals Inc.

Currently, the analyst consensus on Regulus is Hold and the average price target is $1.15, representing a 27.8% upside.

In a report issued on November 7, BMO Capital also reiterated a Hold rating on the stock with a $1.15 price target.

The company has a one-year high of $3.38 and a one-year low of $0.79. Currently, Regulus has an average volume of 689.4K.

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Regulus Therapeutics, Inc. engages in the discovery and development of drugs targeting microRNAs. It is developing RG-101, which targets miR-122, a host factor for the hepatitis C virus infection. The company was founded in September 2007 and is headquartered in San Diego, CA.