Canaccord Genuity analyst Whitney Ijem maintained a Buy rating on Regulus (RGLS – Research Report) yesterday and set a price target of $28.00.
Whitney Ijem has given his Buy rating due to a combination of factors, primarily focusing on the promising data from Regulus’s Phase 1b MAD study of farabursen for ADPKD. The latest results from Cohort 4 demonstrate a significant difference in the trajectory of htTKV compared to placebo, with the data showing mean shrinkage, which is a positive indicator of efficacy. Furthermore, the safety and tolerability profile of the treatment remains favorable, reinforcing confidence in its potential success.
Another key factor influencing the Buy rating is the company’s progress towards initiating a pivotal Phase 3 study by the third quarter of 2025. Despite concerns about cash reserves, which stood at $75.8 million at the end of the fourth quarter of 2024, the strong performance of farabursen is expected to attract continued support and development. This is anticipated to lead to a positive Phase 3 outcome, outweighing any potential short-term financial dilution concerns.
In another report released today, Oppenheimer also maintained a Buy rating on the stock with a $7.00 price target.
Based on the recent corporate insider activity of 11 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.