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.
Featured Story: What is meant by holder of record?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What’s a Black Swan?7 Electric Vehicle (EV) Stocks That Are Ready to Rebound
The electric vehicle (EV) sector was nearly as frothy as the “pandemic stocks” in 2020. It wasn’t that the EV sector was dormant during the Trump administration.
But, as the saying goes, elections have consequences. And Wall Street understands they can make money in any administration. And as a bet that Joe Biden would win the presidency, electric vehicle stocks soared.
For starters, the Biden administration has already said it will prioritize climate change like no administration ever has. And one way they are going to do that is to incentivize the production and purchase of electric vehicles.
And to take advantage of this shift towards electric vehicle stocks, many private companies raced to get in on the action. The preferred way for many of these companies to go public was via a Special Purpose Acquisition Company (SPAC). A SPAC is basically a shortcut to the traditional IPO process.
However, what goes up frequently goes down and since late February, EV stocks have been getting battered. But this is creating an opportunity because the electric vehicle is still supposed to see exceptional growth over the next five years.
To help you take advantage of this we’ve created this special presentation that includes seven stocks that appear to be ready to take the next leg up.
View the "7 Electric Vehicle (EV) Stocks That Are Ready to Rebound "