Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.
IDRA has been the topic of a number of other reports. Robert W. Baird began coverage on shares of Idera Pharmaceuticals in a report on Monday, April 24th. They set an “outperform” rating and a $5.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $6.00 price objective on shares of Idera Pharmaceuticals in a report on Friday, March 17th. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, May 5th. Finally, JMP Securities began coverage on shares of Idera Pharmaceuticals in a report on Wednesday, March 22nd. They set an “outperform” rating and a $8.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $4.57.
Idera Pharmaceuticals (NASDAQ IDRA) opened at 1.79 on Thursday. Idera Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $3.33. The stock’s market capitalization is $266.97 million. The stock has a 50 day moving average price of $1.82 and a 200-day moving average price of $1.87.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 59.91%. Equities research analysts expect that Idera Pharmaceuticals will post ($0.44) EPS for the current year.
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Large investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Idera Pharmaceuticals by 10,453.4% in the fourth quarter. FMR LLC now owns 2,511,700 shares of the biotechnology company’s stock valued at $3,768,000 after buying an additional 2,487,900 shares during the last quarter. Royce & Associates LP acquired a new stake in Idera Pharmaceuticals during the first quarter valued at approximately $1,147,000. Oxford Asset Management acquired a new stake in Idera Pharmaceuticals during the first quarter valued at approximately $743,000. Norges Bank acquired a new stake in Idera Pharmaceuticals during the fourth quarter valued at approximately $450,000. Finally, State Street Corp raised its stake in Idera Pharmaceuticals by 11.7% in the fourth quarter. State Street Corp now owns 1,553,323 shares of the biotechnology company’s stock valued at $2,330,000 after buying an additional 162,173 shares during the last quarter. 31.30% of the stock is currently owned by institutional investors.
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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