Dicerna Pharmaceuticals (DRNA) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) from a hold rating to a buy rating in a report issued on Tuesday. The brokerage currently has $13.00 price target on the biopharmaceutical company’s stock.
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. “
DRNA has been the topic of several other reports. BidaskClub cut Dicerna Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, December 25th. B. Riley raised Dicerna Pharmaceuticals from a neutral rating to a buy rating and increased their target price for the stock from $13.50 to $21.00 in a research note on Tuesday, November 6th. ValuEngine cut Dicerna Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, October 19th. Citigroup reissued a buy rating and issued a $30.00 target price (up from $27.00) on shares of Dicerna Pharmaceuticals in a research note on Monday, October 29th. Finally, Leerink Swann assumed coverage on Dicerna Pharmaceuticals in a research note on Tuesday, November 27th. They issued an outperform rating and a $24.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $20.39.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.11). The firm had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.67 million. Dicerna Pharmaceuticals had a negative return on equity of 63.24% and a negative net margin of 1,418.01%. As a group, equities research analysts predict that Dicerna Pharmaceuticals will post -1.15 earnings per share for the current year.
In other news, Director Brian K. Halak sold 335,000 shares of the company’s 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 can be accessed through this hyperlink. Also, Director Brian K. Halak sold 245,096 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $13.92, for a total value of $3,411,736.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,144,396 shares of company stock worth $15,585,624. Insiders own 19.85% of the company’s stock.
Large investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY bought a new position in Dicerna Pharmaceuticals in the second quarter valued at about $188,000. Voya Investment Management LLC bought a new position in Dicerna Pharmaceuticals in the second quarter valued at about $208,000. MetLife Investment Advisors LLC bought a new position in Dicerna Pharmaceuticals in the second quarter valued at about $266,000. Allianz Asset Management GmbH bought a new position in Dicerna Pharmaceuticals in the third quarter valued at about $375,000. Finally, Virtu Financial LLC bought a new position in Dicerna Pharmaceuticals in the third quarter valued at about $384,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.
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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