Zacks Investment Research Downgrades Dicerna Pharmaceuticals (DRNA) to Hold

Dicerna Pharmaceuticals (NASDAQ:DRNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Several other analysts have also weighed in on DRNA. BidaskClub lowered shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Stifel Nicolaus lifted their target price on shares of 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 reiterated a “hold” rating and set a $14.50 target price on shares of Dicerna Pharmaceuticals in a research report on Monday, August 13th. HC Wainwright upgraded shares of Dicerna Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, August 15th. Finally, Cowen reiterated a “buy” rating on shares of Dicerna Pharmaceuticals in a research report on Wednesday, September 5th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Dicerna Pharmaceuticals has a consensus rating of “Buy” and an average target price of $20.44.

Shares of Dicerna Pharmaceuticals stock opened at $14.72 on Friday. Dicerna Pharmaceuticals has a twelve month low of $6.80 and a twelve month high of $17.98. The stock has a market cap of $933.45 million, a PE ratio of -4.02 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 for the quarter, missing the 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 business had revenue of $1.55 million for the quarter, compared to analyst estimates of $1.67 million. Analysts anticipate that Dicerna Pharmaceuticals will post -1.16 earnings per share for the current year.

In other Dicerna Pharmaceuticals news, insider James B. Weissman sold 2,301 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $17.50, for a total value of $40,267.50. Following the transaction, the insider now directly owns 26,781 shares in the company, valued at $468,667.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian K. Halak sold 335,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $13.33, for a total transaction of $4,465,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,161,228 shares of company stock worth $15,858,388. Company insiders own 19.85% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Dicerna Pharmaceuticals by 13.8% during the third quarter. BlackRock Inc. now owns 2,967,073 shares of the biopharmaceutical company’s stock worth $45,277,000 after acquiring an additional 359,178 shares during the period. Bank of New York Mellon Corp increased its position in Dicerna Pharmaceuticals by 15.3% during the third quarter. Bank of New York Mellon Corp now owns 185,441 shares of the biopharmaceutical company’s stock worth $2,830,000 after acquiring an additional 24,543 shares during the period. Alliancebernstein L.P. increased its position in Dicerna Pharmaceuticals by 137.3% during the third quarter. Alliancebernstein L.P. now owns 29,900 shares of the biopharmaceutical company’s stock worth $456,000 after acquiring an additional 17,300 shares during the period. Swiss National Bank increased its position in Dicerna Pharmaceuticals by 21.1% during the third quarter. Swiss National Bank now owns 65,500 shares of the biopharmaceutical company’s stock worth $1,000,000 after acquiring an additional 11,400 shares during the period. Finally, Candriam Luxembourg S.C.A. bought a new position in Dicerna Pharmaceuticals during the third quarter worth about $4,448,000. Hedge funds and other institutional investors own 74.46% of the company’s stock.

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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