Dicerna Pharmaceuticals (NASDAQ:DRNA) Cut to “Hold” at BidaskClub

Dicerna Pharmaceuticals (NASDAQ:DRNA) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, BidAskClub reports.

Other research analysts also recently issued reports about the stock. ValuEngine raised shares of Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Cowen started coverage on shares of Dicerna Pharmaceuticals in a report on Tuesday, February 26th. They issued an “outperform” rating for the company. B. Riley raised their price target on shares of Dicerna Pharmaceuticals from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. SunTrust Banks cut their price target on shares of Dicerna Pharmaceuticals to $20.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Finally, Zacks Investment Research downgraded shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Dicerna Pharmaceuticals presently has an average rating of “Buy” and an average target price of $21.38.

Dicerna Pharmaceuticals stock opened at $14.45 on Tuesday. Dicerna Pharmaceuticals has a 1-year low of $9.31 and a 1-year high of $17.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.00 and a quick ratio of 5.00.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16). Dicerna Pharmaceuticals had a negative net margin of 1,284.93% and a negative return on equity of 52.17%. The business had revenue of $3.11 million during the quarter, compared to analysts’ expectations of $10.59 million. On average, sell-side analysts predict that Dicerna Pharmaceuticals will post -1.35 EPS for the current year.

In other Dicerna Pharmaceuticals news, insider James B. Weissman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the transaction, the insider now directly owns 39,480 shares of the company’s stock, valued at approximately $592,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bain Capital Life Sciences Inv sold 1,600,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $12.50, for a total transaction of $20,000,000.00. The disclosure for this sale can be found here. 19.85% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Dicerna Pharmaceuticals by 15.3% in the third quarter. Bank of New York Mellon Corp now owns 185,441 shares of the biopharmaceutical company’s stock worth $2,830,000 after purchasing an additional 24,543 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Dicerna Pharmaceuticals by 40.7% in the third quarter. Vanguard Group Inc. now owns 1,983,272 shares of the biopharmaceutical company’s stock worth $30,265,000 after purchasing an additional 573,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Dicerna Pharmaceuticals by 512.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,459 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 2,894 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Dicerna Pharmaceuticals by 65.1% in the fourth quarter. Rhumbline Advisers now owns 67,192 shares of the biopharmaceutical company’s stock worth $718,000 after purchasing an additional 26,483 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Dicerna Pharmaceuticals by 19.9% in 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 purchasing an additional 3,024 shares in the last quarter. 85.76% of the stock is owned by institutional investors.

About Dicerna Pharmaceuticals

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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Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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