Idera Pharmaceuticals (NASDAQ:IDRA) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.
A number of other research analysts also recently issued reports on IDRA. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. HC Wainwright started coverage on shares of Idera Pharmaceuticals in a research report on Thursday, November 9th. They issued a “buy” rating and a $4.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Idera Pharmaceuticals currently has an average rating of “Buy” and an average target price of $4.83.
Shares of Idera Pharmaceuticals (NASDAQ IDRA) opened at $2.41 on Tuesday. Idera Pharmaceuticals has a 1 year low of $1.30 and a 1 year high of $2.87. The company has a market cap of $469.64, a P/E ratio of -7.30 and a beta of 2.19.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.20 million. Idera Pharmaceuticals had a negative net margin of 313.78% and a negative return on equity of 60.80%. equities research analysts expect that Idera Pharmaceuticals will post -0.42 EPS for the current year.
In related news, major shareholder Invest Corp Pillar sold 1,100,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $1.93, for a total transaction of $2,123,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker bought 8,000,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were bought at an average price of $1.50 per share, for a total transaction of $12,000,000.00. The disclosure for this purchase can be found here. 12.42% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in IDRA. Alliancebernstein L.P. lifted its position in shares of Idera Pharmaceuticals by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 12,600 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Idera Pharmaceuticals by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,976 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 6,316 shares during the period. Rhumbline Advisers lifted its position in shares of Idera Pharmaceuticals by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 312 shares during the period. GSA Capital Partners LLP lifted its position in shares of Idera Pharmaceuticals by 846.1% during the 2nd quarter. GSA Capital Partners LLP now owns 180,588 shares of the biotechnology company’s stock valued at $311,000 after acquiring an additional 161,500 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Idera Pharmaceuticals by 55.7% during the 3rd quarter. Wells Fargo & Company MN now owns 142,423 shares of the biotechnology company’s stock valued at $318,000 after acquiring an additional 50,944 shares during the period. Institutional investors own 24.14% of the company’s stock.
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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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