Idera Pharmaceuticals (IDRA) Given a $4.00 Price Target at HC Wainwright

Idera Pharmaceuticals (NASDAQ:IDRA) has been assigned a $4.00 price objective by stock analysts at HC Wainwright in a report issued on Tuesday, January 23rd. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 100.00% from the stock’s previous close.

IDRA has been the topic of a number of other research reports. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub upgraded Idera Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, December 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $4.83.

Idera Pharmaceuticals (NASDAQ:IDRA) traded up $0.06 on Tuesday, hitting $2.00. The company had a trading volume of 1,250,000 shares, compared to its average volume of 2,270,000. The firm has a market cap of $389.74, a PE ratio of -5.88 and a beta of 2.20. Idera Pharmaceuticals has a 1-year low of $1.32 and a 1-year high of $2.87.

In related news, major shareholder Invest Corp Pillar sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $2.40, for a total value of $480,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 3,600,000 shares of company stock worth $7,111,000. 12.42% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of IDRA. Rhumbline Advisers lifted its stake in Idera Pharmaceuticals by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 312 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Idera Pharmaceuticals by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 343,761 shares of the biotechnology company’s stock valued at $591,000 after buying an additional 2,368 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Idera Pharmaceuticals by 16.3% in the 2nd quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after buying an additional 12,600 shares in the last quarter. Teachers Advisors LLC lifted its stake in Idera Pharmaceuticals by 12.0% in the 2nd quarter. Teachers Advisors LLC now owns 189,604 shares of the biotechnology company’s stock valued at $326,000 after buying an additional 20,267 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Idera Pharmaceuticals by 846.1% in the 2nd quarter. GSA Capital Partners LLP now owns 180,588 shares of the biotechnology company’s stock valued at $311,000 after buying an additional 161,500 shares in the last quarter. 24.26% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

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