Investment analysts at Robert W. Baird began coverage on shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) in a research note issued to investors on Monday, April 24th. The brokerage set an “outperform” rating and a $5.00 price target on the biotechnology company’s stock. Robert W. Baird’s price target suggests a potential upside of 192.40% from the stock’s previous close.
Several other equities research analysts have also weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of Idera Pharmaceuticals in a research note on Tuesday, April 11th. JMP Securities assumed coverage on shares of Idera Pharmaceuticals in a research note on Wednesday, March 22nd. They set an “outperform” rating and a $8.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Idera Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $4.57.
Idera Pharmaceuticals (NASDAQ:IDRA) opened at 1.71 on Monday. The company’s 50-day moving average price is $2.10 and its 200 day moving average price is $1.84. The firm’s market capitalization is $255.04 million. Idera Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $3.33.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Idera Pharmaceuticals had a negative net margin of 4,621.03% and a negative return on equity of 76.66%. The business had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.20 million. Analysts predict that Idera Pharmaceuticals will post ($0.44) EPS for the current year.
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In related news, Director Invest Corp Pillar sold 437,829 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $2.29, for a total transaction of $1,002,628.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 2,217,066 shares of company stock worth $5,063,557 in the last quarter. Company insiders own 29.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL boosted its stake in shares of Idera Pharmaceuticals by 48.8% in the first quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock worth $102,000 after buying an additional 13,572 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Idera Pharmaceuticals during the first quarter worth $222,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Idera Pharmaceuticals by 93.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 322,929 shares of the biotechnology company’s stock worth $798,000 after buying an additional 156,400 shares during the last quarter. KCG Holdings Inc. boosted its stake in shares of Idera Pharmaceuticals by 70.8% in the first quarter. KCG Holdings Inc. now owns 143,471 shares of the biotechnology company’s stock worth $354,000 after buying an additional 59,452 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Idera Pharmaceuticals by 6.0% in the first quarter. Geode Capital Management LLC now owns 919,446 shares of the biotechnology company’s stock worth $2,271,000 after buying an additional 51,942 shares during the last quarter. Hedge funds and other institutional investors own 23.23% of the company’s stock.
About Idera Pharmaceuticals
Idera Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutics for oncology and rare diseases. The Company utilizes two drug discovery technology platforms to design and develop drug candidates, which include Toll-like receptor (TLR) targeting technology and third-generation antisense (3GA) technology.
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