Dicerna Pharmaceuticals (NASDAQ:DRNA) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Dicerna Pharmaceuticals (NASDAQ:DRNA) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.03), Bloomberg Earnings reports. The business had revenue of $5.68 million during the quarter, compared to analysts’ expectations of $10.95 million. Dicerna Pharmaceuticals had a negative return on equity of 48.98% and a negative net margin of 737.93%.

NASDAQ:DRNA traded down $0.19 during trading hours on Friday, reaching $13.59. 461,854 shares of the stock were exchanged, compared to its average volume of 370,559. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.00 and a quick ratio of 5.00. The stock has a 50-day simple moving average of $14.64. Dicerna Pharmaceuticals has a twelve month low of $9.31 and a twelve month high of $17.98. The stock has a market cap of $941.50 million, a P/E ratio of -11.33 and a beta of 2.16.

In other news, Director Bain Capital Life Sciences Inv sold 1,600,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $12.50, for a total value of $20,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.28% of the stock is owned by corporate insiders.



Several hedge funds and other institutional investors have recently made changes to their positions in DRNA. Bank of New York Mellon Corp raised its stake in shares of Dicerna Pharmaceuticals by 17.6% in the fourth quarter. Bank of New York Mellon Corp now owns 218,093 shares of the biopharmaceutical company’s stock valued at $2,331,000 after acquiring an additional 32,652 shares in the last quarter. Northern Trust Corp raised its stake in shares of Dicerna Pharmaceuticals by 15.9% in the fourth quarter. Northern Trust Corp now owns 647,143 shares of the biopharmaceutical company’s stock valued at $6,917,000 after acquiring an additional 88,559 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Dicerna Pharmaceuticals by 24.4% in the fourth quarter. Geode Capital Management LLC now owns 554,957 shares of the biopharmaceutical company’s stock valued at $5,932,000 after acquiring an additional 109,012 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Dicerna Pharmaceuticals by 30.3% in the fourth quarter. Bank of America Corp DE now owns 10,596 shares of the biopharmaceutical company’s stock valued at $113,000 after acquiring an additional 2,465 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Dicerna Pharmaceuticals by 450.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,469 shares of the biopharmaceutical company’s stock valued at $197,000 after acquiring an additional 15,111 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Several research analysts recently weighed in on DRNA shares. Zacks Investment Research upgraded Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Cowen restated a “buy” rating on shares of Dicerna Pharmaceuticals in a research note on Tuesday, July 2nd. SunTrust Banks decreased their price target on Dicerna Pharmaceuticals to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. BidaskClub cut Dicerna Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, ValuEngine upgraded Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $21.57.

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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Earnings History for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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