Dicerna Pharmaceuticals Inc (DRNA) Expected to Announce Quarterly Sales of $1.75 Million

Wall Street analysts forecast that Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) will announce sales of $1.75 million for the current quarter, Zacks reports. Three analysts have provided estimates for Dicerna Pharmaceuticals’ earnings. The highest sales estimate is $1.88 million and the lowest is $1.67 million. Dicerna Pharmaceuticals posted sales of $130,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 1,246.2%. The firm is expected to announce its next quarterly earnings report on Monday, May 14th.

According to Zacks, analysts expect that Dicerna Pharmaceuticals will report full year sales of $1.75 million for the current financial year, with estimates ranging from $6.50 million to $8.30 million. For the next financial year, analysts expect that the business will post sales of $12.13 million per share, with estimates ranging from $2.94 million to $26.68 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Dicerna Pharmaceuticals.

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Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings data on Thursday, March 8th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.25). The company had revenue of $1.40 million for the quarter, compared to analysts’ expectations of $1.45 million. Dicerna Pharmaceuticals had a negative return on equity of 171.81% and a negative net margin of 2,637.15%. The business’s revenue was up 976.9% on a year-over-year basis.

Several brokerages have recently weighed in on DRNA. Zacks Investment Research downgraded shares of Dicerna Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. BidaskClub downgraded shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on shares of Dicerna Pharmaceuticals from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, March 9th. Chardan Capital initiated coverage on shares of Dicerna Pharmaceuticals in a research report on Friday, March 9th. They issued a “neutral” rating for the company. Finally, SunTrust Banks initiated coverage on shares of Dicerna Pharmaceuticals in a research report on Monday, February 5th. They issued a “buy” rating and a $13.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Dicerna Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $12.04.

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in Dicerna Pharmaceuticals by 6.1% in the 2nd quarter. Northern Trust Corp now owns 36,219 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 2,094 shares during the last quarter. Endurant Capital Management LP purchased a new stake in Dicerna Pharmaceuticals in the 4th quarter valued at $170,000. Emerald Advisers Inc. PA purchased a new stake in Dicerna Pharmaceuticals in the 4th quarter valued at $266,000. EAM Investors LLC purchased a new stake in Dicerna Pharmaceuticals in the 4th quarter valued at $581,000. Finally, Millennium Management LLC raised its position in Dicerna Pharmaceuticals by 142.8% in the 4th quarter. Millennium Management LLC now owns 66,907 shares of the biopharmaceutical company’s stock valued at $604,000 after purchasing an additional 39,348 shares during the last quarter. Hedge funds and other institutional investors own 75.28% of the company’s stock.

Shares of NASDAQ:DRNA traded down $0.25 during trading on Friday, hitting $9.44. 251,734 shares of the company were exchanged, compared to its average volume of 445,731. The company has a market capitalization of $495.93, a PE ratio of -2.58 and a beta of 2.34. Dicerna Pharmaceuticals has a 12-month low of $2.69 and a 12-month high of $15.00.

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About Dicerna Pharmaceuticals

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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Earnings History and Estimates for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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