Dicerna Pharmaceuticals Inc. (DRNA) Raised to Buy at Zacks Investment Research
Dicerna Pharmaceuticals Inc. (NASDAQ:DRNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $5.75 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.97% from the company’s previous close.
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. “
DRNA has been the topic of a number of other reports. Cowen and Company reaffirmed a “buy” rating on shares of Dicerna Pharmaceuticals in a research note on Sunday, June 26th. Chardan Capital dropped their price target on Dicerna Pharmaceuticals from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, August 8th. Stifel Nicolaus dropped their price target on Dicerna Pharmaceuticals from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Dicerna Pharmaceuticals in a research note on Thursday, June 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $12.25.
Shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) traded up 10.89% on Monday, hitting $5.09. The stock had a trading volume of 233,260 shares. The company’s market capitalization is $105.63 million. The company has a 50-day moving average of $3.92 and a 200 day moving average of $3.90. Dicerna Pharmaceuticals has a 52 week low of $2.69 and a 52 week high of $15.93.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.09. On average, equities research analysts predict that Dicerna Pharmaceuticals will post ($3.17) EPS for the current year.
Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Dicerna Pharmaceuticals by 44.9% in the second quarter. Dimensional Fund Advisors LP now owns 34,273 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 10,616 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Dicerna Pharmaceuticals during the first quarter valued at approximately $160,000. A.R.T. Advisors LLC bought a new stake in shares of Dicerna Pharmaceuticals during the second quarter valued at approximately $170,000. Paloma Partners Management Co bought a new stake in shares of Dicerna Pharmaceuticals during the second quarter valued at approximately $183,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Dicerna Pharmaceuticals during the first quarter valued at approximately $343,000. 62.38% of the stock is owned by hedge funds and other institutional investors.
Dicerna Pharmaceuticals Company Profile
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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