Dicerna Pharmaceuticals’ (DRNA) “Buy” Rating Reaffirmed at Cowen

Cowen reaffirmed their buy rating on shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) in a report released on Monday, AnalystRatings.com reports.

Other analysts have also issued reports about the stock. HC Wainwright set a $22.00 price objective on shares of Dicerna Pharmaceuticals and gave the stock a buy rating in a research report on Monday, August 26th. Chardan Capital reissued a buy rating and issued a $18.00 price objective on shares of Dicerna Pharmaceuticals in a research report on Tuesday, August 13th. SunTrust Banks increased their price objective on shares of Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the stock a buy rating in a research report on Monday. Leerink Swann increased their price objective on shares of Dicerna Pharmaceuticals from $22.00 to $26.00 in a research report on Friday, November 1st. Finally, ValuEngine raised shares of Dicerna Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $24.50.

Dicerna Pharmaceuticals stock traded up $2.61 during midday trading on Monday, reaching $24.00. The stock had a trading volume of 1,891,204 shares, compared to its average volume of 498,499. Dicerna Pharmaceuticals has a 52-week low of $9.31 and a 52-week high of $24.10. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -19.98 and a beta of 2.29. The company has a fifty day moving average of $16.33 and a 200 day moving average of $14.50.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.15). Dicerna Pharmaceuticals had a negative return on equity of 58.92% and a negative net margin of 541.24%. The firm had revenue of $8.04 million during the quarter, compared to analysts’ expectations of $11.70 million. On average, equities analysts forecast that Dicerna Pharmaceuticals will post -1.41 EPS for the current fiscal year.

In other news, insider James B. Weissman sold 14,680 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.07, for a total transaction of $191,867.60. Following the transaction, the insider now directly owns 9,800 shares of the company’s stock, valued at $128,086. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO John B. Green sold 3,562 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $20.00, for a total transaction of $71,240.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,742 shares of company stock worth $1,158,108. Corporate insiders own 21.28% of the company’s stock.

Several large investors have recently modified their holdings of DRNA. Eagle Asset Management Inc. purchased a new position in shares of Dicerna Pharmaceuticals during the third quarter worth approximately $25,347,000. Carillon Tower Advisers Inc. purchased a new position in shares of Dicerna Pharmaceuticals during the third quarter worth approximately $16,088,000. University of Notre Dame DU Lac increased its holdings in Dicerna Pharmaceuticals by 215.2% during the second quarter. University of Notre Dame DU Lac now owns 759,949 shares of the biopharmaceutical company’s stock valued at $11,969,000 after buying an additional 518,836 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Dicerna Pharmaceuticals by 54.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,152,999 shares of the biopharmaceutical company’s stock valued at $18,160,000 after buying an additional 406,960 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in Dicerna Pharmaceuticals during the second quarter valued at approximately $3,994,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Dicerna Pharmaceuticals Company Profile

Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery and development of ribonucleic acid interference (RNAi)-based pharmaceuticals. The company develops pharmaceuticals using its GalXC RNAi platform for the treatment of diseases involving the liver, including rare diseases, viral infectious diseases, chronic liver diseases, and cardiovascular diseases.

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Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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