Dicerna Pharmaceuticals Inc. (DRNA) Rating Increased to Buy at Zacks Investment Research
Dicerna Pharmaceuticals Inc. (NASDAQ:DRNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $5.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would indicate a potential upside of 12.97% from the company’s current price.
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. “
A number of other equities research analysts have also commented on DRNA. Cowen and Company reissued a “buy” rating on shares of Dicerna Pharmaceuticals in a report on Sunday, June 26th. Chardan Capital reduced their target price on shares of Dicerna Pharmaceuticals from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, August 8th. Stifel Nicolaus reduced their target price on shares of Dicerna Pharmaceuticals from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Dicerna Pharmaceuticals in a research note on Thursday, June 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $12.25.
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Dicerna Pharmaceuticals (NASDAQ:DRNA) traded up 10.89% during mid-day trading on Monday, hitting $5.09. 233,260 shares of the company were exchanged. The stock’s market cap is $105.63 million. Dicerna Pharmaceuticals has a 12-month low of $2.69 and a 12-month high of $15.93. The company has a 50 day moving average of $3.92 and a 200 day moving average of $3.90.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.09. On average, equities research analysts expect that Dicerna Pharmaceuticals will post ($3.17) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Paloma Partners Management Co purchased a new stake in shares of Dicerna Pharmaceuticals during the second quarter worth $183,000. A.R.T. Advisors LLC purchased a new stake in shares of Dicerna Pharmaceuticals during the second quarter worth $170,000. FMR LLC increased its stake in shares of Dicerna Pharmaceuticals by 0.4% in the second quarter. FMR LLC now owns 3,108,916 shares of the biopharmaceutical company’s stock worth $9,327,000 after buying an additional 11,719 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Dicerna Pharmaceuticals by 44.9% in the second quarter. Dimensional Fund Advisors LP now owns 34,273 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 10,616 shares in the last quarter. Finally, Oxford Asset Management increased its stake in shares of Dicerna Pharmaceuticals by 109.3% in the second quarter. Oxford Asset Management now owns 286,413 shares of the biopharmaceutical company’s stock worth $859,000 after buying an additional 149,560 shares in the last quarter. Institutional investors and hedge funds own 62.38% of the company’s stock.
Dicerna Pharmaceuticals Company Profile
Dicerna Pharmaceuticals, Inc is a ribonucleic acid (RNA) interference-based biopharmaceutical company. The Company operates in the segment of discovery, research and development of treatments based on its RNA interference (RNAi) technology platform. The Company is focused on the discovery and development of treatments for rare inherited diseases involving the liver and for cancers that are genetically defined.
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