Zacks Investment Research downgraded shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) from a hold rating to a sell rating in a report published on Friday.
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. “
DRNA has been the topic of several other reports. Evercore ISI assumed coverage on Dicerna Pharmaceuticals in a research report on Tuesday, January 16th. They set an outperform rating and a $14.00 price target on the stock. ValuEngine upgraded Dicerna Pharmaceuticals from a sell rating to a hold rating in a research report on Sunday, December 31st. Chardan Capital restated a neutral rating on shares of Dicerna Pharmaceuticals in a research report on Tuesday, January 16th. BidaskClub lowered Dicerna Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, January 31st. Finally, SunTrust Banks assumed coverage on Dicerna Pharmaceuticals in a research report on Monday, February 5th. They set a buy rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Dicerna Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $10.05.
In related news, Director Bain Capital Life Sciences Inv bought 285,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were acquired at an average cost of $7.00 per share, with a total value of $1,995,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 29.41% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in DRNA. Northern Trust Corp boosted its holdings in Dicerna Pharmaceuticals by 6.1% in the second quarter. Northern Trust Corp now owns 36,219 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 2,094 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Dicerna Pharmaceuticals by 4.5% in the second quarter. Vanguard Group Inc. now owns 340,327 shares of the biopharmaceutical company’s stock worth $1,078,000 after acquiring an additional 14,517 shares in the last quarter. Deschutes Portfolio Strategy LLC bought a new stake in Dicerna Pharmaceuticals in the third quarter worth $575,000. Birchview Capital LP boosted its holdings in Dicerna Pharmaceuticals by 125.0% in the third quarter. Birchview Capital LP now owns 45,000 shares of the biopharmaceutical company’s stock worth $259,000 after acquiring an additional 25,000 shares in the last quarter. Finally, First Manhattan Co. purchased a new position in shares of Dicerna Pharmaceuticals in the fourth quarter worth $3,865,000. 22.76% of the stock is currently owned by institutional investors and hedge funds.
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Dicerna Pharmaceuticals Company Profile
Dicerna Pharmaceuticals, Inc is a ribonucleic acid (RNA) interference-based biopharmaceutical company. The Company operates in the segment of discovery, research and development of treatments based on its RNA interference (RNAi) technology platform. The Company is focused on the discovery and development of treatments for rare inherited diseases involving the liver and for cancers that are genetically defined.
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