Dicerna Pharmaceuticals (NASDAQ:DRNA) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) from a hold rating to a sell rating in a research report sent to investors on Friday 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. “

Other analysts also recently issued reports about the stock. BidaskClub raised shares of Dicerna Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, March 6th. ValuEngine upgraded shares of Dicerna Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, March 21st. B. Riley upped their price target on shares of Dicerna Pharmaceuticals from $21.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. SunTrust Banks upped their price target on shares of Dicerna Pharmaceuticals to $26.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. Finally, Citigroup reiterated a buy rating and issued a $30.00 price target on shares of Dicerna Pharmaceuticals in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Dicerna Pharmaceuticals currently has an average rating of Buy and an average price target of $21.38.

NASDAQ:DRNA opened at $15.50 on Friday. The stock has a market capitalization of $1.06 billion, a PE ratio of -12.92 and a beta of 2.24. The company has a current ratio of 5.00, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. Dicerna Pharmaceuticals has a 1-year low of $9.31 and a 1-year high of $17.98.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.16). The business had revenue of $3.11 million during the quarter, compared to analysts’ expectations of $10.59 million. Dicerna Pharmaceuticals had a negative return on equity of 52.17% and a negative net margin of 1,284.93%. On average, analysts forecast that Dicerna Pharmaceuticals will post -1.35 EPS for the current fiscal year.

In related news, Director Bain Capital Life Sciences Inv sold 1,600,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were 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 at this hyperlink. Also, insider James B. Weissman sold 15,000 shares of the company’s 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 completion of the transaction, the insider now owns 39,480 shares in the company, valued at approximately $592,200. The disclosure for this sale can be found here. Insiders own 19.85% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of DRNA. Rhumbline Advisers lifted its stake in Dicerna Pharmaceuticals by 65.1% during the 4th quarter. Rhumbline Advisers now owns 67,192 shares of the biopharmaceutical company’s stock valued at $718,000 after acquiring an additional 26,483 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Dicerna Pharmaceuticals by 19.9% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 18,234 shares of the biopharmaceutical company’s stock valued at $195,000 after purchasing an additional 3,024 shares during the last quarter. TD Asset Management Inc. purchased a new stake in shares of Dicerna Pharmaceuticals during the 4th quarter valued at about $169,000. California Public Employees Retirement System increased its position in shares of Dicerna Pharmaceuticals by 20.1% during the 4th quarter. California Public Employees Retirement System now owns 108,587 shares of the biopharmaceutical company’s stock valued at $1,161,000 after purchasing an additional 18,200 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Dicerna Pharmaceuticals by 46.0% during the 4th quarter. BlackRock Inc. now owns 4,331,228 shares of the biopharmaceutical company’s stock valued at $46,300,000 after purchasing an additional 1,364,155 shares during the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.

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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