Regulus Therapeutics shares are trading higher after Wells Fargo maintained an Equal-Weight rating on the stock and raised its price target from $2 to $3.
Portfolio Pulse from Benzinga Newsdesk
Regulus Therapeutics' stock price increased following Wells Fargo's decision to maintain an Equal-Weight rating while raising its price target from $2 to $3.
March 13, 2024 | 5:58 pm
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POSITIVE IMPACT
Wells Fargo maintained an Equal-Weight rating on Regulus Therapeutics but increased the price target from $2 to $3, leading to a rise in the stock price.
The increase in the price target by a reputable financial institution like Wells Fargo can lead to positive investor sentiment towards RGLS, potentially driving up the stock price in the short term. The maintenance of an Equal-Weight rating suggests a neutral outlook on the stock's valuation, but the raised price target indicates an improved financial or operational outlook for Regulus Therapeutics.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90