Dicerna Pharmaceuticals Inc. (NASDAQ:DRNA) Receives Consensus Recommendation of “Buy” from Analysts
Dicerna Pharmaceuticals Inc. (NASDAQ:DRNA) has received an average recommendation of “Buy” from the six ratings firms that are presently covering the firm. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $11.83.
Several equities analysts have recently weighed in on DRNA shares. Cowen and Company reissued a “buy” rating on shares of Dicerna Pharmaceuticals in a research report on Sunday, June 26th. Chardan Capital cut their target price on Dicerna Pharmaceuticals from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Monday, August 15th. Leerink Swann reissued a “buy” rating on shares of Dicerna Pharmaceuticals in a research report on Thursday, June 30th. Zacks Investment Research downgraded Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Stifel Nicolaus cut their target price on Dicerna Pharmaceuticals from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th.
Dicerna Pharmaceuticals (NASDAQ:DRNA) opened at 5.24 on Thursday. The stock’s market cap is $108.75 million. The firm’s 50-day moving average price is $3.71 and its 200 day moving average price is $3.90. Dicerna Pharmaceuticals has a 12 month low of $2.69 and a 12 month high of $15.93.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.09. On average, analysts anticipate that Dicerna Pharmaceuticals will post ($3.17) earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Oxford Asset Management increased its position 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 valued at $859,000 after buying an additional 149,560 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Dicerna Pharmaceuticals during the first quarter valued at approximately $343,000. Paloma Partners Management Co acquired a new position in shares of Dicerna Pharmaceuticals during the second quarter valued at approximately $183,000. A.R.T. Advisors LLC acquired a new position in shares of Dicerna Pharmaceuticals during the second quarter valued at approximately $170,000. Finally, RTW Investments LLC increased its position in shares of Dicerna Pharmaceuticals by 2.6% in the first quarter. RTW Investments LLC now owns 2,026,894 shares of the biopharmaceutical company’s stock valued at $10,864,000 after buying an additional 51,665 shares during the period. 62.38% of the stock is currently owned by institutional investors.
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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