Dicerna Pharmaceuticals (DRNA) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) from a hold rating to a sell rating in a research report released on Wednesday morning, Zacks.com reports.

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 research analysts also recently issued reports on the company. HC Wainwright restated a buy rating and issued a $22.00 price objective on shares of Dicerna Pharmaceuticals in a research note on Friday, May 3rd. ValuEngine downgraded Dicerna Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, April 26th. BidaskClub downgraded Dicerna Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, April 16th. B. Riley increased their price target on Dicerna Pharmaceuticals from $21.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. Finally, SunTrust Banks increased their price target on Dicerna Pharmaceuticals to $26.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $22.13.

NASDAQ:DRNA traded up $0.36 during trading on Wednesday, reaching $11.76. The company’s stock had a trading volume of 7,609 shares, compared to its average volume of 497,445. The company has a market capitalization of $804.17 million, a PE ratio of -9.75 and a beta of 2.30. Dicerna Pharmaceuticals has a 12 month low of $9.31 and a 12 month high of $17.98.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16). The business had revenue of $3.11 million during the quarter, compared to the consensus estimate of $10.59 million. Dicerna Pharmaceuticals had a negative net margin of 1,284.93% and a negative return on equity of 55.80%. On average, sell-side analysts forecast that Dicerna Pharmaceuticals will post -0.99 EPS for the current year.

In related news, insider James B. Weissman sold 15,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.00, for a total transaction of $225,000.00. Following the sale, the insider now owns 39,480 shares of the company’s stock, valued at approximately $592,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.85% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. RTW Investments LP raised its holdings in shares of Dicerna Pharmaceuticals by 8.2% in the 4th quarter. RTW Investments LP now owns 5,907,088 shares of the biopharmaceutical company’s stock valued at $63,147,000 after acquiring an additional 445,964 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Dicerna Pharmaceuticals by 46.0% in the 4th quarter. BlackRock Inc. now owns 4,331,228 shares of the biopharmaceutical company’s stock valued at $46,300,000 after acquiring an additional 1,364,155 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Dicerna Pharmaceuticals by 40.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,983,272 shares of the biopharmaceutical company’s stock valued at $30,265,000 after acquiring an additional 573,197 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Dicerna Pharmaceuticals by 40.7% in the 3rd quarter. Vanguard Group Inc now owns 1,983,272 shares of the biopharmaceutical company’s stock valued at $30,265,000 after acquiring an additional 573,197 shares in the last quarter. Finally, BVF Inc. IL raised its holdings in shares of Dicerna Pharmaceuticals by 15.2% in the 1st quarter. BVF Inc. IL now owns 1,400,956 shares of the biopharmaceutical company’s stock valued at $20,524,000 after acquiring an additional 185,229 shares in the last quarter. 86.16% of the stock is currently owned by hedge funds and other institutional investors.

About Dicerna Pharmaceuticals

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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