Trade Report: The Dicerna Pharmaceuticals Inc. (DRNA) Stock Rating Upgraded by Zacks Investment Research

The Dicerna Pharmaceuticals Inc. (DRNA) Stock Rating Upgraded by Zacks Investment Research

Dicerna Pharmaceuticals Inc. (NASDAQ:DRNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $5.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective suggests a potential upside of 17.59% 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. “

A number of other equities analysts have also recently issued reports on the company. Chardan Capital cut their price objective on Dicerna Pharmaceuticals from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Monday, August 15th. Stifel Nicolaus restated a “buy” rating and set a $13.00 target price on shares of Dicerna Pharmaceuticals in a report on Wednesday, September 28th. Leerink Swann restated a “buy” rating on shares of Dicerna Pharmaceuticals in a report on Thursday, June 30th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Dicerna Pharmaceuticals in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $12.25.

Shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) opened at 4.89 on Monday. Dicerna Pharmaceuticals has a one year low of $2.69 and a one year high of $15.93. The firm has a 50-day moving average price of $3.95 and a 200-day moving average price of $3.91. The company’s market capitalization is $101.48 million.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.09. Equities analysts forecast that Dicerna Pharmaceuticals will post ($3.17) earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co bought a new position in shares of Dicerna Pharmaceuticals during the second quarter worth approximately $183,000. A.R.T. Advisors LLC acquired a new stake in Dicerna Pharmaceuticals during the second quarter worth approximately $170,000. FMR LLC boosted its stake in Dicerna Pharmaceuticals by 0.4% in the second quarter. FMR LLC now owns 3,108,916 shares of the biopharmaceutical company’s stock worth $9,327,000 after buying an additional 11,719 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Dicerna Pharmaceuticals by 44.9% in the second quarter. Dimensional Fund Advisors LP now owns 34,273 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 10,616 shares in the last quarter. Finally, Oxford Asset Management boosted its stake in Dicerna Pharmaceuticals by 109.3% in the second quarter. Oxford Asset Management now owns 286,413 shares of the biopharmaceutical company’s stock worth $859,000 after buying an additional 149,560 shares in the last quarter. Hedge funds and other institutional investors own 62.38% of the company’s stock.

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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