Jefferies Reiterates Buy on Dicerna Pharma (DRNA) Following 4Q - PT to $19

Jefferies maintained a Buy rating on Dicerna Pharmaceuticals (NASDAQ: DRNA), and cut the price target to $19.00 (from $25.00), following the company's 4Q. DRNA reported a Narrower 4Q15 net loss of $15.7M, compared to Jefferies' net loss estimate of $18.1M.

Analyst Eun Yang commented, "Narrower net loss of ~$16M on lower OpEx; ~$95M cash at YE15 sufficient at least for next 12 months per DRNA. At current valuation of ~$112M, little expectation is priced in. Thus, timely progress & positive PoC data from its early programs (DCR-MYC in Ph1/2 & DCR-PH1 Ph1) would potentially provide upside from here."

For an analyst ratings summary and ratings history on Dicerna Pharmaceuticals click here. For more ratings news on Dicerna Pharmaceuticals click here.

Shares of Dicerna Pharmaceuticals closed at $5.44 yesterday.

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