Needham analyst Alan Carr maintained a Hold rating on Regulus (RGLS) today. The company’s shares closed yesterday at $1.12, close to its 52-week low of $0.80.
Carr wrote:
“Regulus reported 4Q18 financial results and we spoke w/ mgmt for an update. The RG-012 program is in the process of being transferred to Sanofi. Regulus will receive the remaining $2.5M of total $7M upfront fee once complete. Sanofi plans to initiate a new Phase 2 trial in $10M interim trial enrollment milestone payment from Sanofi is expected YE19. Regulus is in discussions w/ FDA regarding RGLS4326 preclinical tox data. After FDA clearance, Regulus can resume Phase 1 MAD trial. No guidance on timing. Regulus announced selection of RGLS5579 as a Glioblastoma Multiforme candidate earlier this yr and continues to work toward selection of a Hepatitis B candidate. HOLD. We believe microRNA technology platform has potential, but await additional data and note cash constraints.”
According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.3% and a 44.6% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Lexicon Pharmaceuticals.
Currently, the analyst consensus on Regulus is a Hold with an average price target of $2.
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The company has a one-year high of $10.44 and a one-year low of $0.80. Currently, Regulus has an average volume of 307.9K.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RGLS in relation to earlier this year.
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Regulus Therapeutics, Inc. is a 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.
