ValuEngine Downgrades Dicerna Pharmaceuticals (NASDAQ:DRNA) to Hold

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Dicerna Pharmaceuticals (NASDAQ:DRNA) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

Several other brokerages have also recently issued reports on DRNA. BidaskClub raised Dicerna Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Robert W. Baird lifted their target price on Dicerna Pharmaceuticals from $35.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Chardan Capital reaffirmed a “buy” rating and issued a $18.00 target price on shares of Dicerna Pharmaceuticals in a report on Tuesday, August 13th. Cowen reaffirmed a “buy” rating on shares of Dicerna Pharmaceuticals in a report on Monday, November 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price (up from $22.00) on shares of Dicerna Pharmaceuticals in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Dicerna Pharmaceuticals has an average rating of “Buy” and an average target price of $27.38.

NASDAQ:DRNA opened at $26.48 on Tuesday. Dicerna Pharmaceuticals has a 52 week low of $9.31 and a 52 week high of $26.69. The business’s 50-day simple moving average is $18.93 and its two-hundred day simple moving average is $15.30. The stock has a market cap of $1.65 billion, a PE ratio of -22.07 and a beta of 2.38.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.15). Dicerna Pharmaceuticals had a negative return on equity of 58.92% and a negative net margin of 541.24%. The firm had revenue of $8.04 million during the quarter, compared to the consensus estimate of $11.70 million. As a group, research analysts forecast that Dicerna Pharmaceuticals will post -1.28 EPS for the current year.

In related news, major shareholder Bain Capital Life Sciences Inv sold 1,750,000 shares of Dicerna Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.03, for a total value of $38,552,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John B. Green sold 12,500 shares of Dicerna Pharmaceuticals stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $18.00, for a total value of $225,000.00. The disclosure for this sale can be found here. Insiders sold 3,599,826 shares of company stock worth $82,474,979 over the last ninety days. Insiders own 21.28% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRNA. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Dicerna Pharmaceuticals by 52.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,363 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 1,151 shares in the last quarter. Quantamental Technologies LLC grew its position in Dicerna Pharmaceuticals by 94.4% in the second quarter. Quantamental Technologies LLC now owns 3,500 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 1,700 shares in the last quarter. Bank of Montreal Can purchased a new position in Dicerna Pharmaceuticals in the second quarter worth about $68,000. Athanor Capital LP purchased a new position in Dicerna Pharmaceuticals in the second quarter worth about $233,000. Finally, Metropolitan Life Insurance Co NY grew its position in Dicerna Pharmaceuticals by 5.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 18,110 shares of the biopharmaceutical company’s stock worth $260,000 after acquiring an additional 879 shares in the last quarter. Institutional investors own 84.77% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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