B. Riley upgraded shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) from a neutral rating to a buy rating in a report published on Tuesday, MarketBeat Ratings reports. The brokerage currently has $21.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $13.50. B. Riley also issued estimates for Dicerna Pharmaceuticals’ Q4 2018 earnings at ($0.23) EPS, FY2018 earnings at ($0.95) EPS, Q1 2019 earnings at ($0.28) EPS, Q2 2019 earnings at ($0.28) EPS, Q3 2019 earnings at ($0.28) EPS, Q4 2019 earnings at ($0.28) EPS, FY2019 earnings at ($1.10) EPS, FY2020 earnings at ($0.10) EPS, FY2021 earnings at ($0.88) EPS and FY2022 earnings at ($0.03) EPS.
Several other analysts also recently issued reports on the company. BidaskClub downgraded Dicerna Pharmaceuticals from a strong-buy rating to a buy rating in a report on Wednesday, August 29th. HC Wainwright upgraded Dicerna Pharmaceuticals from a neutral rating to a buy rating and set a $21.00 price objective on the stock in a report on Wednesday, August 15th. ValuEngine downgraded Dicerna Pharmaceuticals from a buy rating to a hold rating in a report on Friday, October 19th. Citigroup initiated coverage on Dicerna Pharmaceuticals in a report on Thursday, September 13th. They set a buy rating and a $27.00 price objective on the stock. Finally, Cowen restated a buy rating on shares of Dicerna Pharmaceuticals in a report on Wednesday, September 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Dicerna Pharmaceuticals presently has an average rating of Buy and a consensus target price of $20.44.
NASDAQ DRNA traded down $0.20 on Tuesday, reaching $14.72. The company’s stock had a trading volume of 334,541 shares, compared to its average volume of 769,117. Dicerna Pharmaceuticals has a twelve month low of $6.80 and a twelve month high of $17.98.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.11). Dicerna Pharmaceuticals had a negative net margin of 1,418.01% and a negative return on equity of 63.24%. The business had revenue of $1.55 million during the quarter, compared to analyst estimates of $1.67 million. On average, equities research analysts forecast that Dicerna Pharmaceuticals will post -1.16 EPS for the current year.
In other news, Director Dennis Langer sold 14,531 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $16.00, for a total value of $232,496.00. Following the transaction, the director now owns 29,064 shares in the company, valued at approximately $465,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian K. Halak sold 564,300 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $13.66, for a total value of $7,708,338.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,161,228 shares of company stock worth $15,858,388. Corporate insiders own 19.85% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. RTW Investments LP increased its holdings in shares of Dicerna Pharmaceuticals by 0.3% in the 2nd quarter. RTW Investments LP now owns 5,044,813 shares of the biopharmaceutical company’s stock valued at $61,799,000 after purchasing an additional 15,351 shares during the period. BlackRock Inc. increased its holdings in shares of Dicerna Pharmaceuticals by 13.8% in the 3rd quarter. BlackRock Inc. now owns 2,967,073 shares of the biopharmaceutical company’s stock valued at $45,277,000 after purchasing an additional 359,178 shares during the period. Emerald Advisers Inc. PA increased its holdings in shares of Dicerna Pharmaceuticals by 61.2% in the 3rd quarter. Emerald Advisers Inc. PA now owns 972,622 shares of the biopharmaceutical company’s stock valued at $14,842,000 after purchasing an additional 369,114 shares during the period. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Dicerna Pharmaceuticals by 72.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 909,220 shares of the biopharmaceutical company’s stock valued at $13,875,000 after purchasing an additional 382,361 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Dicerna Pharmaceuticals by 719.5% in the 2nd quarter. Northern Trust Corp now owns 486,668 shares of the biopharmaceutical company’s stock valued at $5,962,000 after purchasing an additional 427,284 shares during the period. Institutional investors own 74.46% of the company’s stock.
Dicerna Pharmaceuticals Company Profile
Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery and development of pharmaceuticals for the treatment of rare, viral infectious, chronic liver, and cardiovascular diseases. Its development programs include DCR-PHXC for the treatment of primary hyperoxaluria; DCR-HBVS for the treatment of chronic hepatitis B virus infection; and DCR-PCSK9 to treat hypercholesterolemia.
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