Wedbush Sees ~460% Upside in Regulus Therapeutics (RGLS) After Bumping Target to $42

Wedbush analyst Liana Moussatos reiterated an Outperform rating and boosted her price target on Regulus Therapeutics (NASDAQ: RGLS) to $42.00 (from $41.00) following Q2 results. The analyst projects $139MM cash lasts through 2016 and covers material catalysts.

Moussatos said "With RGLS trading at only $400MM marketcap after the recent pullback, we see a major buying opportunity in front of a series of potentially material clinical catalysts in 2015-2016 from three clinical programs. Regulus is managing the HCV and Alport Syndrome programs while AZN is anticipated to take over clinical development of the latest candidate: RG-125 for T2D and metabolic dysregulation (including NASH)."

For an analyst ratings summary and ratings history on Regulus Therapeutics click here. For more ratings news on Regulus Therapeutics click here.

Shares of Regulus Therapeutics closed at $7.77 yesterday.

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