Stifel raised its price target on Dicerna Pharmaceuticals (NASDAQ: DRNA) to $18.00 (from $17.00) while maintaining a Buy rating.

Analsyt Stephen Willey commented, "We believe the recently-announced settlement of the Alnylam litigation now provides improved visibility into both longer-term balance sheet runway and ongoing/future business development efforts. We believe recently-communicated regulatory feedback on the size/scope, duration, and endpoint selection of a registrational clinical development program for Alnylam’s lumasiran should bode well for the pivotal P2/3 DCR-PHXC trial scheduled to initiate patient enrollment in 1Q19. We continue to like the preclinical pipeline – and believe recently-disclosed modifications to the core GalXC chemistry platform should translate into potency and durability improvements which will further enhance competitiveness. Important 2H18 catalysts include the disclosure of P1 single-ascending dose escalation data for DCR-PHXC and a potential partnership for the now IND-ready second rare disease candidate. Estimates remain largely unchanged. Target price marginally increased to $18 (previously $17)."