Dicerna Pharmaceuticals (NASDAQ:DRNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $17.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.49% from the stock’s current price.
According to Zacks, “Dicerna Pharmaceuticals, Inc. is focused on the discovery and development of innovative treatments for rare inherited diseases involving the liver and for cancers. The company uses its proprietary RNA interference technology platform primarily in the United States and internationally. Dicerna Pharmaceuticals, Inc. is headquartered in Watertown, Massachusetts. “
A number of other research analysts have also weighed in on DRNA. BidaskClub lowered Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Stifel Nicolaus raised their price objective on Dicerna Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Chardan Capital reaffirmed a “hold” rating and set a $14.50 price objective on shares of Dicerna Pharmaceuticals in a research report on Monday, August 13th. HC Wainwright raised Dicerna Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, August 15th. Finally, Cowen reaffirmed a “buy” rating on shares of Dicerna Pharmaceuticals in a research report on Wednesday, September 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $20.44.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.11). Dicerna Pharmaceuticals had a negative net margin of 1,418.01% and a negative return on equity of 63.24%. The company had revenue of $1.55 million for the quarter, compared to the consensus estimate of $1.67 million. On average, equities analysts anticipate that Dicerna Pharmaceuticals will post -1.16 earnings per share for the current fiscal year.
In other Dicerna Pharmaceuticals news, Director Brian K. Halak sold 335,000 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $13.33, for a total transaction of $4,465,550.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dennis Langer sold 14,531 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $16.00, for a total value of $232,496.00. Following the sale, the director now owns 29,064 shares in the company, valued at $465,024. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,161,228 shares of company stock worth $15,858,388. Company insiders own 19.85% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of DRNA. Northern Trust Corp boosted its stake in Dicerna Pharmaceuticals by 63.7% during the 1st quarter. Northern Trust Corp now owns 59,384 shares of the biopharmaceutical company’s stock valued at $568,000 after purchasing an additional 23,102 shares during the last quarter. BlackRock Inc. boosted its stake in Dicerna Pharmaceuticals by 136.5% during the 1st quarter. BlackRock Inc. now owns 277,493 shares of the biopharmaceutical company’s stock valued at $2,652,000 after purchasing an additional 160,172 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Dicerna Pharmaceuticals by 241.4% during the 1st quarter. JPMorgan Chase & Co. now owns 120,948 shares of the biopharmaceutical company’s stock valued at $1,156,000 after purchasing an additional 85,525 shares during the last quarter. Jane Street Group LLC purchased a new stake in Dicerna Pharmaceuticals during the 1st quarter valued at $136,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Dicerna Pharmaceuticals during the 1st quarter valued at $102,000. Institutional investors and hedge funds own 74.46% of the company’s stock.
Dicerna Pharmaceuticals Company Profile
Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery and development of pharmaceuticals for the treatment of rare, viral infectious, chronic liver, and cardiovascular diseases. Its development programs include DCR-PHXC for the treatment of primary hyperoxaluria; DCR-HBVS for the treatment of chronic hepatitis B virus infection; and DCR-PCSK9 to treat hypercholesterolemia.
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