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Wells Fargo Analyst Initiates Coverage of DICE Therapeutics with EqualWeight Rating and 38 Price Target
On May 24, 2023, Wells Fargo analyst Derek Archila made an announcement regarding the coverage of DICE Therapeutics (NASDAQ:DICE). Archila initiated the coverage with an Equal-Weight rating and set a Price Target of $38. The stock analysis of DICE Therapeutics was conducted based on the TipRanks Smart Score, which is derived from eight unique data sets, including analyst recommendations.
According to US News, DICE Therapeutics has an above-average debt-to-equity ratio. However, there is no additional information related to the company in this source.
In other news, Wells Fargo made an adjustment to IQVIA’s price target, lowering it to $220 from $235 while maintaining an Equal Weight rating.
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DICE Stock Performance on May 24, 2023: Declining Earnings Growth and Market Capitalization
On May 24, 2023, DICE stock opened at 34.46, slightly lower than the previous close of 34.59. The day’s range was between 33.71 and 36.26, with a volume of 351,571 shares traded. The average volume for the past three months was the same as the day’s volume, indicating that there was no significant increase or decrease in trading activity.
DICE’s market capitalization was $1.6B. The company’s earnings growth for the last year was -66.22%, and for this year, it was -21.13%. The earnings growth for the next five years was expected to be -11.19%.
DICE is a biotechnology company in the health technology sector. The next reporting date was set for August 10, 2023, and the EPS forecast for this quarter was -$0.65.
Overall, the stock performance for DICE on May 24, 2023, was not very promising, with declining earnings growth. Investors should keep an eye on the company’s future financial reports and developments to make informed investment decisions.
Dice Therapeutics Incs Stock Performance Monitored by Investors and Analysts with High Median Target Price
On May 24, 2023, Dice Therapeutics Inc’s stock performance was closely monitored by investors and analysts alike. According to data from CNN Money, the 10 analysts offering 12-month price forecasts for the biopharmaceutical company had a median target of 59.50, with a high estimate of 77.00 and a low estimate of 38.00. The median estimate represented a significant increase of 74.33% from the last price of 34.13. The current consensus among 11 polled investment analysts was to buy stock in Dice Therapeutics Inc. This rating had held steady since May, when it was unchanged from a buy rating. This indicated that the company was still viewed as a strong investment opportunity by those in the industry. Looking at the current quarter, Dice Therapeutics Inc had reported earnings per share of -$0.65 and sales of $0.00. Despite the negative earnings per share, the high median target price from analysts suggested that there was still confidence in the company’s future prospects. Investors should continue to monitor the company’s performance and pipeline developments to make informed investment decisions.
