Idera Pharmaceuticals, Inc. (NASDAQ:IDRA)‘s stock had its “buy” rating reiterated by analysts at Piper Jaffray Companies in a note issued to investors on Tuesday, September 12th. They currently have a $4.00 price target on the biotechnology company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 79.37% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, BidaskClub lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.48.
Idera Pharmaceuticals (IDRA) traded down 1.33% during trading on Tuesday, hitting $2.23. The stock had a trading volume of 566,680 shares. The company’s market cap is $333.68 million. Idera Pharmaceuticals has a 52-week low of $1.30 and a 52-week high of $3.33. The firm’s 50-day moving average price is $1.89 and its 200-day moving average price is $1.94.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). Idera Pharmaceuticals had a negative return on equity of 61.09% and a negative net margin of 300.63%. The firm had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.20 million. Analysts predict that Idera Pharmaceuticals will post ($0.49) EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL increased its position in shares of Idera Pharmaceuticals by 48.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 13,572 shares during the last quarter. TFS Capital LLC bought a new stake in shares of Idera Pharmaceuticals in the 1st quarter worth about $109,000. American International Group Inc. increased its position in shares of Idera Pharmaceuticals by 8.2% in the 1st quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 4,214 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Idera Pharmaceuticals by 7.3% in the 1st quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock worth $154,000 after purchasing an additional 4,235 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in shares of Idera Pharmaceuticals in the 2nd quarter worth about $136,000. 30.94% of the stock is owned by institutional investors.
Idera Pharmaceuticals Company Profile
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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