Dicerna Pharma (DRNA) Gets a Buy Rating from B.Riley FBR

By Carrie Williams

In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Dicerna Pharma (DRNAResearch Report), with a price target of $24. The company’s shares closed on Friday at $13.59.

Mamtani noted:

“Pharmaceuticals (DRNA) reported 2Q19 financial results and provided corporate updates. The clinical development of Ph. III-stage DCR-PHXC in primary hyperoxaluria (PH) and Ph. I-stage DCR-HBVS in HBV patients remain key focus areas within DRNA’s pipeline, followed by recent Ph. I initiation of DCR-A1AT program ( link) and continued progression of discovery-stage programs from the strategic partnerships struck with and Alexion. We update our model to reflect 1Q19 financial results, and anticipate continued outperformance YTD (+27 vs. +17% for XBI) through the remainder of 2019 leading to R&D Day towards end of 4Q timeframe when DRNA anticipates to have Ph. I preliminary HBsAg data from its low-dose 1.5 mg/kg DCR-HBVS single-dose cohort and Ph. II PHYOX-3 open-label DCR-PHXC multiple-dose cohort data.”

According to TipRanks.com, Mamtani has currently no stars on a ranking scale of 0-5 stars, with an average return of -14.1% and a 22.7% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

Currently, the analyst consensus on Dicerna Pharma is a Strong Buy with an average price target of $22.75, a 67.4% upside from current levels. In a report issued on August 8, Cowen & Co. also maintained a Buy rating on the stock.

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Based on Dicerna Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $23.85 million. In comparison, last year the company had a GAAP net loss of $35.64 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock.

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Dicerna Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the discovery and development of treatments for rare diseases, chronic liver diseases, cardiovascular disease, and viral liver infectious diseases. The firm uses its proprietary GalXC RNAi technology platform to build a pipeline in these therapeutic areas.