H.C. Wainwright analyst Ed Arce maintained a Buy rating on Dicerna Pharma (DRNA) today and set a price target of $22. The company’s shares opened today at $11.59.
Arce said:
“We point out, however, that at this point in the development of the field, there is no clear consensus on what threshold level is significant. Moreover, we believe the preclinical data to date on DCR-HBVS demonstrate that the compound has the potential to have best-in-class efficacy on HBsAg reduction. To wit, as shown in a standard mouse transfection model, DCR-HBVS induced a rapid and profound HBsAg reduction of over 3- log, in just 3 weeks after just a single 3 mg/kg dose. a hydrodynamic injection model, DCR-HBVS induced a reduction in 3 weekly injections of 3 mg/kg. Thus, notwithstanding the potential translational loss from murine to human, we fully expect the HBsAg reductions from the current study to be well in excess of 1-log. Affirm Buy.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 9.7% and a 39.6% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Dicerna Pharma is a Strong Buy with an average price target of $21.50, representing an 85.5% upside. In a report issued on May 2, 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 March 31, the company reported a quarterly GAAP net loss of $26.15 million. In comparison, last year the company had a GAAP net loss of $15.58 million.
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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.
