Dicerna Pharmaceuticals (DRNA) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $13.00 price objective 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. “

Several other analysts have also recently commented on the company. Chardan Capital raised Dicerna Pharmaceuticals from a neutral rating to a buy rating and set a $18.00 price target for the company in a report on Tuesday, January 22nd. BidaskClub cut Dicerna Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, January 12th. Leerink Swann started coverage on Dicerna Pharmaceuticals in a report on Tuesday, November 27th. They issued an outperform rating and a $24.00 price target for the company. ValuEngine cut Dicerna Pharmaceuticals from a hold rating to a sell rating in a report on Monday, February 25th. Finally, Cowen assumed coverage on Dicerna Pharmaceuticals in a research note on Tuesday, February 26th. They issued an outperform rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Dicerna Pharmaceuticals has an average rating of Buy and a consensus price target of $21.78.

DRNA opened at $12.31 on Tuesday. The company has a market capitalization of $720.16 million, a PE ratio of -10.26 and a beta of 2.40. Dicerna Pharmaceuticals has a 12 month low of $8.71 and a 12 month high of $17.98.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The business had revenue of $1.54 million during the quarter, compared to analyst estimates of $8.38 million. Dicerna Pharmaceuticals had a negative net margin of 1,438.68% and a negative return on equity of 65.91%. Sell-side analysts anticipate that Dicerna Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRNA. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dicerna Pharmaceuticals by 512.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,459 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 2,894 shares in the last quarter. Legal & General Group Plc increased its position in Dicerna Pharmaceuticals by 38.7% during the fourth quarter. Legal & General Group Plc now owns 9,186 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 2,561 shares in the last quarter. Bank of America Corp DE increased its position in Dicerna Pharmaceuticals by 30.3% during the fourth quarter. Bank of America Corp DE now owns 10,596 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 2,465 shares in the last quarter. TD Asset Management Inc. purchased a new position in Dicerna Pharmaceuticals during the fourth quarter worth $169,000. Finally, State Board of Administration of Florida Retirement System increased its position in Dicerna Pharmaceuticals by 19.9% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 18,234 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 3,024 shares in the last quarter. 92.81% of the stock is 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 ribonucleic acid interference (RNAi)-based pharmaceuticals. The company develops pharmaceuticals using its GalXC RNAi platform for the treatment of diseases involving the liver, including rare diseases, viral infectious diseases, chronic liver diseases, and cardiovascular diseases.

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