UPDATE: Stifel Reiterates On Dicerna Pharmaceuticals As DCR-MYC Is Progressing Nicely

In a report published Friday, Stifel analyst Stephen Willey reiterated a Buy rating on Dicerna Pharmaceuticals DRNA, but lowered the price target from $70.00 to $62.00. In the report, Stifel noted, “While emerging competitive concerns in PH1 have seemingly weighed on shares of late (despite Dicerna's >1 year head-start), other first-in-class opportunities such as c-MYC remain underappreciated. Target reduced to $21 (previously $44) to better-reflect reduced near-term urgency around what are mostly YE15-weighted data catalysts.” Dicerna Pharmaceuticals closed on Thursday at $8.14.