Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) is among the top gainers of the stock market today, skyrocketing 3.49% or (0.41 points) to $12.15 from its previous close of $11.74. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 290893 contracts so far this session. DRNA shares had a relatively better volume day versus average trading capacity of 537.02 thousand shares, but with a 62.6 million float and a -3.29% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DRNA stock indicates that the average analyst price target is $23.57 per share. This means the stock has a potential increase of 93.99% from where the DRNA share price has been trading recently which is between $11.44 and $11.88. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $18.
The shorts are climbing into Dicerna Pharmaceuticals, Inc. (DRNA) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in DRNA shares. While short interest still represents only 7.93% of DRNA’s float, the number of shares shorted have risen by 116234. The number of shares shorted advanced to 5080656 shares, up from 4964422 shares during the preceding fortnight. With average daily trading volumes at 273048 shares, days to cover increased to about 10.78036 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Dicerna Announces Dosing of First Patient in Phase 1 Clinical Trial of DCR-HBVS for the Treatment of Chronic Hepatitis B Virus” and dated May 16, 2019.
During the recent trading session for Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA), the company witnessed their stock rise $0.79 over a week and tumble down $-1.61 from the price 20 days ago. When compared to their established 52-week high of $17.98, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/14/18. The recent low of $9.31 stood for a -32.42% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.34 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Dicerna Pharmaceuticals, Inc., the two-week RSI stands at 44.43. This figure suggests that DRNA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current DRNA readings is similarly very revealing as it has a stochastic reading of 37.5% at this stage. This figure means that DRNA share price today is being neutral.
Technical chart claims that Dicerna Pharmaceuticals, Inc. (DRNA) would settle between $11.93/share to $12.13/share level. However, if the stock price goes below the $11.49 mark, then the market for Dicerna Pharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $11.25 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Chardan Capital Markets raised their recommendation on shares of DRNA from Neutral to Buy in their opinion released on January 22. B. Riley FBR analysts bumped their rating on Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) stock from Neutral to Buy in a separate flash note issued to investors on November 06. Analysts at Citigroup, made their first call for the equity with a Buy recommendation, according to a research note that dated back to September 13.
DRNA equity has an average rating of 1.67, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 9 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 9 analysts rated Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, DRNA stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 103.66 while for the average stock in the same group, the multiple is 42.11.
Dicerna Pharmaceuticals, Inc. (DRNA)’s current-quarter revenues are projected to climb by nearly 602.97% to hit $10.9 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 542.81% from $6.18 million to a noteworthy $39.7 million. At the other end of the current quarter income statement, Dicerna Pharmaceuticals, Inc. is expected to see its adjusted earnings surge by roughly -3.57% to hit $-0.29 per share. For the fiscal year, DRNA’s earnings are projected to climb by roughly 23.13% to hit $-1.23 per share.