Dicerna Pharmaceuticals (DRNA) Raised to “Buy” at B. Riley

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B. Riley upgraded shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) from a neutral rating to a buy rating in a research note released on Tuesday morning, Marketbeat reports. They currently have $21.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $13.50. B. Riley also issued estimates for Dicerna Pharmaceuticals’ Q4 2018 earnings at ($0.23) EPS, FY2018 earnings at ($0.95) EPS, Q1 2019 earnings at ($0.28) EPS, Q2 2019 earnings at ($0.28) EPS, Q3 2019 earnings at ($0.28) EPS, Q4 2019 earnings at ($0.28) EPS, FY2019 earnings at ($1.10) EPS, FY2020 earnings at ($0.10) EPS, FY2021 earnings at ($0.88) EPS and FY2022 earnings at ($0.03) EPS.

Other analysts have also issued research reports about the stock. Citigroup started coverage on shares of Dicerna Pharmaceuticals in a research note on Thursday, September 13th. They set a buy rating and a $27.00 target price for the company. SunTrust Banks boosted their target price on shares of Dicerna Pharmaceuticals to $20.00 and gave the company a buy rating in a research note on Thursday, September 6th. Cowen reiterated a buy rating on shares of Dicerna Pharmaceuticals in a research note on Wednesday, September 5th. BidaskClub lowered shares of Dicerna Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Wednesday, August 29th. Finally, Stifel Nicolaus boosted their target price on shares of Dicerna Pharmaceuticals from $18.00 to $20.00 and gave the company a buy rating in a research note on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $20.44.

DRNA stock traded down $0.20 during trading on Tuesday, hitting $14.72. 334,541 shares of the company’s stock traded hands, compared to its average volume of 769,117. Dicerna Pharmaceuticals has a 52 week low of $6.80 and a 52 week high of $17.98.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last released 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 the consensus estimate of $1.67 million. Equities research analysts predict that Dicerna Pharmaceuticals will post -1.16 earnings per share for the current fiscal year.

In other news, Director Brian K. Halak sold 564,300 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $13.66, for a total transaction of $7,708,338.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Langer sold 14,531 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 29,064 shares of the company’s stock, valued at approximately $465,024. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,161,228 shares of company stock valued at $15,858,388. Corporate insiders own 19.85% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in DRNA. Cubist Systematic Strategies LLC acquired a new position in shares of Dicerna Pharmaceuticals during the first quarter valued at $102,000. Jane Street Group LLC acquired a new stake in Dicerna Pharmaceuticals in the first quarter worth about $136,000. State Board of Administration of Florida Retirement System acquired a new stake in Dicerna Pharmaceuticals in the second quarter worth about $178,000. Metropolitan Life Insurance Co. NY acquired a new stake in Dicerna Pharmaceuticals in the second quarter worth about $188,000. Finally, Voya Investment Management LLC acquired a new stake in Dicerna Pharmaceuticals in the second quarter worth about $208,000. 74.46% of the stock is owned by institutional investors.

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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