Dicerna Pharmaceuticals Inc (DRNA) Receives $19.00 Consensus Price Target from Analysts

Shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) have earned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.00.

DRNA has been the subject of several analyst reports. Stifel Nicolaus lifted their price target on shares of Dicerna Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. BidaskClub cut shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. B. Riley lifted their price target on shares of Dicerna Pharmaceuticals from $10.00 to $13.50 and gave the stock a “neutral” rating in a research report on Monday, September 17th. Citigroup initiated coverage on shares of Dicerna Pharmaceuticals in a research report on Thursday, September 13th. They set a “buy” rating and a $27.00 price target for the company. Finally, Chardan Capital reiterated a “hold” rating and set a $14.50 price target on shares of Dicerna Pharmaceuticals in a research report on Monday, August 13th.

Shares of NASDAQ:DRNA opened at $13.40 on Friday. Dicerna Pharmaceuticals has a one year low of $4.91 and a one year high of $17.98. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.14. The company has a market cap of $943.17 million, a PE ratio of -3.66 and a beta of 2.43.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.26). Dicerna Pharmaceuticals had a negative return on equity of 97.39% and a negative net margin of 1,642.81%. The business had revenue of $1.55 million for the quarter, compared to analyst estimates of $1.79 million. As a group, equities research analysts forecast that Dicerna Pharmaceuticals will post -1.13 earnings per share for the current fiscal year.

In related news, Director Dennis Langer sold 14,531 shares of the business’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 transaction, the director now owns 29,064 shares in the company, valued at $465,024. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James B. Weissman sold 2,301 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $17.50, for a total transaction of $40,267.50. Following the transaction, the insider now 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 currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of DRNA. Cubist Systematic Strategies LLC acquired a new position in Dicerna Pharmaceuticals during the first quarter valued at approximately $102,000. Jane Street Group LLC acquired a new position in Dicerna Pharmaceuticals during the first quarter valued at approximately $136,000. Verition Fund Management LLC acquired a new position in Dicerna Pharmaceuticals during the first quarter valued at approximately $141,000. State Board of Administration of Florida Retirement System acquired a new position in Dicerna Pharmaceuticals during the second quarter valued at approximately $178,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in Dicerna Pharmaceuticals during the second quarter valued at approximately $188,000. Hedge funds and other institutional investors own 74.59% of the company’s stock.

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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Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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