Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) shares were down 10.1% during trading on Friday . The stock traded as low as $11.70 and last traded at $11.76. Approximately 866,698 shares changed hands during mid-day trading, an increase of 57% from the average daily volume of 553,519 shares. The stock had previously closed at $13.08.
Several research analysts recently commented on DRNA shares. Stifel Nicolaus raised their price target on shares of Dicerna Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 9th. BidaskClub downgraded shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. B. Riley increased their price objective on shares of Dicerna Pharmaceuticals from $10.00 to $13.50 and gave the company a “neutral” rating in a research report on Monday, September 17th. Citigroup started coverage on shares of Dicerna Pharmaceuticals in a research report on Thursday, September 13th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Chardan Capital reaffirmed a “hold” rating and issued a $14.50 price objective on shares of Dicerna Pharmaceuticals in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Dicerna Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $17.41.
The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.14. The stock has a market cap of $791.13 million, a PE ratio of -3.22 and a beta of 2.43.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.26). Dicerna Pharmaceuticals had a negative net margin of 1,642.81% and a negative return on equity of 97.39%. The firm had revenue of $1.55 million during the quarter, compared to analyst estimates of $1.79 million. On average, research analysts predict that Dicerna Pharmaceuticals Inc will post -1.13 earnings per share for the current fiscal year.
In other news, Director Dennis Langer sold 14,531 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $16.00, for a total transaction of $232,496.00. Following the completion of the sale, the director now owns 29,064 shares of the company’s stock, valued at $465,024. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James B. Weissman sold 2,301 shares of the firm’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 sale, the insider now directly owns 26,781 shares of the company’s stock, valued at approximately $468,667.50. The disclosure for this sale can be found here. 19.85% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Dicerna Pharmaceuticals during the first quarter worth approximately $102,000. Jane Street Group LLC acquired a new stake in shares of Dicerna Pharmaceuticals during the first quarter worth approximately $136,000. Verition Fund Management LLC acquired a new stake in shares of Dicerna Pharmaceuticals during the first quarter worth approximately $141,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Dicerna Pharmaceuticals during the second quarter worth approximately $178,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Dicerna Pharmaceuticals during the second quarter worth approximately $188,000. 74.59% of the stock is owned by institutional investors and hedge funds.
Dicerna Pharmaceuticals Company Profile (NASDAQ:DRNA)
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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