DPL (Dicerna Pharmaceuticals Inc) vs DAX Index Comparison

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Dicerna Pharmaceuticals Inc
Glance View

Market Cap

2.6B EUR

Industry

Biotechnology

In the unassuming landscape of biotechnology, Dicerna Pharmaceuticals Inc. carved its niche with the finesse of a sculptor hewing masterpieces from marble. Founded in 2007, this Lexington-based company embarked on its journey into the realm of RNA interference (RNAi) therapies, a revolutionary approach that tackles diseases by silencing specific genes. RNAi is akin to flipping a switch within our genetic blueprint, modulating the expression of proteins that could potentially cause disorders. Dicerna's proprietary GalXC™ technology emerged as the linchpin of its innovation, allowing the company to create targeted therapies that had the potential to address a diverse array of rare and chronic diseases such as primary hyperoxaluria, chronic liver diseases, and viral infections. Dicerna's business model weaved together research prowess and strategic alliances, capitalizing on partnerships with big pharmaceutical titans like Novo Nordisk, Roche, Boehringer Ingelheim, and Eli Lilly to propel its research pipeline. These collaborations not only provided the necessary capital but also amplified its scientific discoveries to reach broader horizons. Licensing agreements allowed Dicerna to earn milestone payments along with royalties on eventual sales, enabling it to reinvest in groundbreaking research and development. While playing the long game in the volatile waters of biotechnology, Dicerna's revenue strategy relied heavily on these partnerships, as well as on advancing its in-house programs to bring its therapies closer to market, painting a picture of a company poised at the confluence of scientific promise and commercial potential.

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DPL Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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DPL

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DAX Index

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DPL vs DAX Index

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DPL vs DAX Index

Performance By Year
DPL vs DAX Index

Competitors Performance
Dicerna Pharmaceuticals Inc vs Peers

Dicerna Pharmaceuticals Inc
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D
DPL

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Stocks Performance
DPL vs DAX Index

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DPL vs DAX Index

Performance By Year
DPL vs DAX Index

Competitors Performance
Dicerna Pharmaceuticals Inc vs Peers

Dicerna Pharmaceuticals Inc
Glance View