Leerink Swann Reaffirms Outperform Rating for Dicerna Pharmaceuticals (NASDAQ:DRNA)

Dicerna Pharmaceuticals (NASDAQ:DRNA)‘s stock had its “outperform” rating reiterated by stock analysts at Leerink Swann in a research note issued on Tuesday, The Fly reports. They presently have a $30.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $26.00. Leerink Swann’s price objective suggests a potential upside of 40.25% from the stock’s current price.

Several other analysts have also weighed in on DRNA. SunTrust Banks began coverage on shares of Dicerna Pharmaceuticals in a research note on Monday. They set a “buy” rating and a $24.00 target price for the company. ValuEngine upgraded shares of Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Zacks Investment Research upgraded shares of Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. BidaskClub upgraded shares of Dicerna Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price (up previously from $22.00) on shares of Dicerna Pharmaceuticals in a research note on Tuesday. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.50.

DRNA stock opened at $21.39 on Tuesday. Dicerna Pharmaceuticals has a 1-year low of $9.31 and a 1-year high of $23.57. The firm has a fifty day moving average price of $16.33 and a two-hundred day moving average price of $14.50. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -17.83 and a beta of 2.29.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.15). Dicerna Pharmaceuticals had a negative net margin of 541.24% and a negative return on equity of 58.92%. The business had revenue of $8.04 million for the quarter, compared to the consensus estimate of $11.70 million. As a group, equities research analysts predict that Dicerna Pharmaceuticals will post -1.41 earnings per share for the current fiscal year.

In other news, insider James B. Weissman sold 14,680 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $13.07, for a total transaction of $191,867.60. Following the completion of the transaction, the insider now owns 9,800 shares in the company, valued at $128,086. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James B. Weissman sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the transaction, the chief operating officer now owns 34,704 shares of the company’s stock, valued at approximately $694,080. The disclosure for this sale can be found here. Insiders have sold 65,742 shares of company stock valued at $1,158,108 in the last 90 days. Insiders own 21.28% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank grew its position in shares of Dicerna Pharmaceuticals by 9.5% during the second quarter. Swiss National Bank now owns 87,600 shares of the biopharmaceutical company’s stock worth $1,380,000 after acquiring an additional 7,600 shares during the last quarter. Northern Trust Corp grew its position in shares of Dicerna Pharmaceuticals by 3.7% during the second quarter. Northern Trust Corp now owns 683,682 shares of the biopharmaceutical company’s stock worth $10,768,000 after acquiring an additional 24,348 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Dicerna Pharmaceuticals during the third quarter worth about $25,347,000. Quantamental Technologies LLC grew its position in shares of Dicerna Pharmaceuticals by 94.4% during the second quarter. Quantamental Technologies LLC now owns 3,500 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Planning Solutions Group LLC acquired a new stake in Dicerna Pharmaceuticals in the second quarter worth about $369,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Dicerna Pharmaceuticals Company Profile

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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Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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