Zacks: Analysts Anticipate Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) Will Post Quarterly Sales of $10.95 Million

Brokerages forecast that Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) will announce $10.95 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Dicerna Pharmaceuticals’ earnings. The highest sales estimate is $14.95 million and the lowest is $6.93 million. Dicerna Pharmaceuticals reported sales of $1.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 606.5%. The business is scheduled to issue its next earnings report on Wednesday, August 14th.

On average, analysts expect that Dicerna Pharmaceuticals will report full-year sales of $41.15 million for the current fiscal year, with estimates ranging from $32.60 million to $48.20 million. For the next financial year, analysts expect that the company will report sales of $50.30 million, with estimates ranging from $15.00 million to $68.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Dicerna Pharmaceuticals.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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%.

DRNA has been the topic of several analyst reports. ValuEngine downgraded Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 26th. SunTrust Banks cut their target price on Dicerna Pharmaceuticals to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Zacks Investment Research downgraded Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. BidaskClub raised Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, May 30th. Finally, Citigroup reiterated a “buy” rating and set a $30.00 price target on shares of Dicerna Pharmaceuticals in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.38.

In other Dicerna Pharmaceuticals news, Director Bain Capital Life Sciences Inv sold 1,600,000 shares of Dicerna Pharmaceuticals stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $12.50, for a total value of $20,000,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James B. Weissman sold 15,000 shares of Dicerna Pharmaceuticals stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the sale, the insider now directly owns 39,480 shares in the company, valued at approximately $592,200. The disclosure for this sale can be found here. Company insiders own 19.85% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in Dicerna Pharmaceuticals in the 1st quarter worth about $26,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Dicerna Pharmaceuticals by 512.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,459 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 2,894 shares during the last quarter. Legal & General Group Plc increased its holdings in Dicerna Pharmaceuticals by 38.7% during the 4th quarter. Legal & General Group Plc now owns 9,186 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 2,561 shares during the last quarter. Bank of America Corp DE grew its position in shares of Dicerna Pharmaceuticals by 30.3% in the 4th quarter. Bank of America Corp DE now owns 10,596 shares of the biopharmaceutical company’s stock worth $113,000 after acquiring an additional 2,465 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Dicerna Pharmaceuticals in the 1st quarter worth approximately $153,000. Institutional investors own 85.76% of the company’s stock.

Shares of NASDAQ:DRNA opened at $14.45 on Thursday. The stock has a market capitalization of $951.07 million, a price-to-earnings ratio of -12.04 and a beta of 2.23. 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 12-month low of $9.31 and a 12-month high of $17.98.

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.

Read More: Gross Domestic Product (GDP)

Get a free copy of the Zacks research report on Dicerna Pharmaceuticals (DRNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Dicerna Pharmaceuticals (NASDAQ:DRNA)

Receive News & Ratings for Dicerna Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dicerna Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.