Dicerna Pharmaceuticals, Inc. (DRNA) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
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. ValuEngine downgraded shares of Dicerna Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, August 1st. HC Wainwright reiterated a buy rating and issued a $10.00 price target (up previously from $6.00) on shares of Dicerna Pharmaceuticals in a research note on Friday, November 3rd. Finally, Chardan Capital reiterated a hold rating on shares of Dicerna Pharmaceuticals in a research note on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $6.81.
Shares of Dicerna Pharmaceuticals (NASDAQ DRNA) opened at $8.04 on Tuesday. Dicerna Pharmaceuticals has a 1 year low of $2.42 and a 1 year high of $8.48.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last released its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.22). The business had revenue of $0.47 million during the quarter. Dicerna Pharmaceuticals had a negative return on equity of 293.25% and a negative net margin of 5,895.26%. Dicerna Pharmaceuticals’s revenue for the quarter was up 192.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.68) earnings per share. research analysts predict that Dicerna Pharmaceuticals will post -3.08 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in DRNA. EcoR1 Capital LLC boosted its stake in Dicerna Pharmaceuticals by 101.0% in the 2nd quarter. EcoR1 Capital LLC now owns 767,992 shares of the biopharmaceutical company’s stock worth $2,435,000 after purchasing an additional 385,992 shares in the last quarter. Deschutes Portfolio Strategy LLC bought a new position in Dicerna Pharmaceuticals during the 3rd quarter valued at about $575,000. Paloma Partners Management Co lifted its stake in Dicerna Pharmaceuticals by 49.7% during the 1st quarter. Paloma Partners Management Co now owns 160,000 shares of the biopharmaceutical company’s stock valued at $544,000 after acquiring an additional 53,131 shares during the period. Bourgeon Capital Management LLC lifted its stake in Dicerna Pharmaceuticals by 188.9% during the 2nd quarter. Bourgeon Capital Management LLC now owns 39,000 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 25,500 shares during the period. Finally, Birchview Capital LP lifted its stake in Dicerna Pharmaceuticals by 125.0% during the 3rd quarter. Birchview Capital LP now owns 45,000 shares of the biopharmaceutical company’s stock valued at $259,000 after acquiring an additional 25,000 shares during the period. Institutional investors own 55.91% of the company’s stock.
About Dicerna Pharmaceuticals
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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