Dicerna Pharmaceuticals (NASDAQ:DRNA) Price Target Increased to $24.00 by Analysts at SunTrust Banks

Dicerna Pharmaceuticals (NASDAQ:DRNA) had its price target upped by SunTrust Banks from $20.00 to $24.00 in a report issued on Monday, The Fly reports. SunTrust Banks currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Leerink Swann raised their target price on shares of Dicerna Pharmaceuticals from $22.00 to $26.00 in a research report on Friday, November 1st. ValuEngine raised shares of Dicerna Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, November 6th. Zacks Investment Research raised shares of Dicerna Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, November 5th. Robert W. Baird started coverage on shares of Dicerna Pharmaceuticals in a research report on Tuesday, October 29th. They issued an outperform rating and a $27.00 target price on the stock. Finally, Chardan Capital reissued a buy rating and issued a $18.00 target price on shares of Dicerna Pharmaceuticals in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $24.50.

Shares of Dicerna Pharmaceuticals stock traded up $2.61 during mid-day trading on Monday, hitting $24.00. 1,891,204 shares of the stock were exchanged, compared to its average volume of 498,499. Dicerna Pharmaceuticals has a twelve month low of $9.31 and a twelve month high of $24.10. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -19.98 and a beta of 2.29. The company has a 50-day simple moving average of $16.33 and a 200 day simple moving average of $14.50.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $11.70 million. As a group, equities research analysts expect that Dicerna Pharmaceuticals will post -1.41 earnings per share for the current year.

In other Dicerna Pharmaceuticals news, COO James B. Weissman sold 15,000 shares of Dicerna Pharmaceuticals stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $18.00, for a total transaction of $270,000.00. Following the transaction, the chief operating officer now directly owns 29,704 shares of the company’s stock, valued at $534,672. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James B. Weissman sold 14,680 shares of Dicerna Pharmaceuticals 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 in the company, valued at $128,086. 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. 21.28% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Carillon Tower Advisers Inc. purchased a new stake in shares of Dicerna Pharmaceuticals during the third quarter valued at approximately $16,088,000. Eagle Asset Management Inc. purchased a new stake in shares of Dicerna Pharmaceuticals during the third quarter valued at approximately $25,347,000. California Public Employees Retirement System raised its stake in shares of Dicerna Pharmaceuticals by 53.6% during the third quarter. California Public Employees Retirement System now owns 102,675 shares of the biopharmaceutical company’s stock valued at $1,474,000 after purchasing an additional 35,836 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Dicerna Pharmaceuticals during the third quarter valued at approximately $784,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Dicerna Pharmaceuticals by 52.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,363 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 1,151 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

About Dicerna Pharmaceuticals

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.

Further Reading: Treasury Bonds

The Fly

Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

Receive News & Ratings for Dicerna Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dicerna Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.