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Dicerna Pharmaceuticals (NASDAQ:DRNA) Receives New Coverage from Analysts at The Goldman Sachs Group

Last updated on Thursday, April 22, 2021 | 2021 MarketBeat

Stock analysts at The Goldman Sachs Group initiated coverage on shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) in a research note issued to investors on Thursday, Benzinga reports. The brokerage set a "buy" rating and a $48.00 price target on the biopharmaceutical company's stock. The Goldman Sachs Group's target price points to a potential upside of 63.38% from the company's current price.

A number of other equities analysts have also weighed in on the stock. B. Riley upped their price target on shares of Dicerna Pharmaceuticals from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, March 1st. Chardan Capital upped their price target on shares of Dicerna Pharmaceuticals from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, March 8th. Truist Securities upped their price target on shares of Dicerna Pharmaceuticals from $35.00 to $45.00 in a research report on Monday. HC Wainwright upped their price target on shares of Dicerna Pharmaceuticals from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, March 8th. Finally, SVB Leerink dropped their price target on shares of Dicerna Pharmaceuticals from $45.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, April 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of "Buy" and a consensus target price of $40.44.

Shares of NASDAQ DRNA opened at $29.38 on Thursday. The firm has a 50 day moving average of $26.68 and a 200 day moving average of $24.11. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -18.25 and a beta of 1.33. Dicerna Pharmaceuticals has a 12-month low of $16.50 and a 12-month high of $30.92.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its earnings results on Thursday, February 25th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.60). The business had revenue of $40.96 million for the quarter, compared to the consensus estimate of $81.82 million. Dicerna Pharmaceuticals had a negative net margin of 88.81% and a negative return on equity of 71.72%. Analysts predict that Dicerna Pharmaceuticals will post -1.02 EPS for the current fiscal year.

In other news, COO James B. Weissman sold 4,904 shares of the business's stock in a transaction on Friday, April 16th. The shares were sold at an average price of $29.99, for a total value of $147,070.96. Following the transaction, the chief operating officer now owns 16,000 shares of the company's stock, valued at $479,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bob D. Brown sold 21,630 shares of the business's stock in a transaction on Monday, January 25th. The stock was sold at an average price of $25.00, for a total transaction of $540,750.00. Following the completion of the transaction, the executive vice president now directly owns 43,147 shares in the company, valued at approximately $1,078,675. The disclosure for this sale can be found here. Insiders sold 61,071 shares of company stock worth $1,576,529 in the last three months. Insiders own 11.30% of the company's stock.

Institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its stake in Dicerna Pharmaceuticals by 169.6% during the fourth quarter. Penserra Capital Management LLC now owns 1,720 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 1,082 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Dicerna Pharmaceuticals by 24.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,744 shares of the biopharmaceutical company's stock valued at $193,000 after purchasing an additional 1,698 shares in the last quarter. Diversified Trust Co purchased a new stake in Dicerna Pharmaceuticals during the fourth quarter valued at $206,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Dicerna Pharmaceuticals by 27.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,648 shares of the biopharmaceutical company's stock valued at $235,000 after purchasing an additional 2,270 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in Dicerna Pharmaceuticals during the fourth quarter valued at $287,000. 80.64% of the stock is currently owned by institutional investors.

Dicerna Pharmaceuticals Company Profile

Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercializing 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, cardiometabolic, viral, and chronic liver diseases; complement-mediated diseases; and neurodegenerative diseases and pain.

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Analyst Recommendations for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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