Idera Pharmaceuticals (NASDAQ:IDRA) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.15, MarketWatch Earnings reports. The business had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $2.09 million. Idera Pharmaceuticals had a negative net margin of 8,686.36% and a negative return on equity of 74.17%.
IDRA traded up $1.50 during midday trading on Wednesday, hitting $8.71. 77,649 shares of the company’s stock traded hands, compared to its average volume of 220,565. The firm has a market cap of $204.89 million, a PE ratio of -2.63 and a beta of 2.66. Idera Pharmaceuticals has a one year low of $5.20 and a one year high of $20.40.
In related news, major shareholder Invest Corp Pillar sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $6.30, for a total transaction of $346,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.48% of the stock is currently owned by company insiders.
Several research firms recently commented on IDRA. Zacks Investment Research cut shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. ValuEngine upgraded shares of Idera Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, July 30th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Idera Pharmaceuticals in a report on Monday, August 6th. Wedbush decreased their price target on shares of Idera Pharmaceuticals from $40.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, July 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Idera Pharmaceuticals in a report on Wednesday, August 15th. They set an “overweight” rating and a $15.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $20.21.
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Idera Pharmaceuticals Company Profile
Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States. The company uses two drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and nucleic acid chemistry technology.
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