Regulus (RGLS) Receives a Hold from Needham

In a report issued on May 10, Alan Carr from Needham maintained a Hold rating on Regulus (RGLS). The company’s shares closed on Friday at $1.33, close to its 52-week low of $0.80.

Carr wrote:

“Regulus reported 1Q19 financial results yesterday and we spoke w/ mgmt for a corporate update. Discussions remain underway between Regulus and FDA over RGLS4326 program. The company submitted data from 12wk interim analysis of 26wk preclinical tox study earlier this yr. No details on status of review or timelines, but we assume the matter will be resolved w/ resumption of Phase 1 MAD trial by YE19. RG-012 program has been transferred to Sanofi. Mgmt guiding for $10M payment around YE19 tied to Phase 2 trial enrollment milestone. Regulus entitled to another $30M upon completion of Phase 2 or initiation of Phase 3 program. Recent financing may support company into 2021. Maintain HOLD, awaiting progression of internal pipeline programs.”

According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.6% and a 44.3% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Currently, the analyst consensus on Regulus is a Hold with an average price target of $1, representing a -24.8% downside. In a report issued on May 8, Wedbush also reiterated a Hold rating on the stock with a $1 price target.

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Based on Regulus’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.56 million. In comparison, last year the company had a GAAP net loss of $16.03 million.

Based on the recent corporate insider activity of 34 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.