Dicerna Pharmaceuticals Inc (DRNA) Receives Average Rating of “Buy” from Analysts

Shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) have received a consensus recommendation of “Buy” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.93.

Several brokerages have weighed in on DRNA. B. Riley raised Dicerna Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.50 to $21.00 in a research note on Tuesday. Cowen reissued a “buy” rating on shares of Dicerna Pharmaceuticals in a research note on Tuesday. HC Wainwright boosted their price objective on Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Citigroup reissued a “buy” rating and set a $30.00 price objective (up from $27.00) on shares of Dicerna Pharmaceuticals in a research note on Monday, October 29th. Finally, ValuEngine cut Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 19th.

In other Dicerna Pharmaceuticals news, insider James B. Weissman sold 2,301 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $17.50, for a total transaction of $40,267.50. Following the completion of the transaction, the insider now owns 26,781 shares in the company, valued at $468,667.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian K. Halak sold 564,300 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $13.66, for a total value of $7,708,338.00. The disclosure for this sale can be found here. Insiders have sold 1,161,228 shares of company stock worth $15,858,388 over the last three months. 19.85% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new position in shares of Dicerna Pharmaceuticals during the first quarter valued at approximately $102,000. Jane Street Group LLC purchased a new position in shares of Dicerna Pharmaceuticals during the first quarter valued at approximately $136,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Dicerna Pharmaceuticals during the second quarter valued at approximately $178,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Dicerna Pharmaceuticals during the second quarter valued at approximately $188,000. Finally, Voya Investment Management LLC purchased a new position in shares of Dicerna Pharmaceuticals during the second quarter valued at approximately $208,000. Institutional investors and hedge funds own 74.46% of the company’s stock.

Shares of DRNA stock traded down $0.05 during trading hours on Thursday, hitting $14.83. The stock had a trading volume of 19,397 shares, compared to its average volume of 737,921. Dicerna Pharmaceuticals has a one year low of $6.80 and a one year high of $17.98. The stock has a market capitalization of $900.20 million, a price-to-earnings ratio of -4.05 and a beta of 2.37.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.11). Dicerna Pharmaceuticals had a negative return on equity of 63.24% and a negative net margin of 1,418.01%. The firm had revenue of $1.55 million during the quarter, compared to the consensus estimate of $1.67 million. As a group, research analysts forecast that Dicerna Pharmaceuticals will post -1.13 EPS for the current fiscal year.

About Dicerna Pharmaceuticals

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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Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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