ValuEngine lowered shares of Idera Pharmaceuticals (NASDAQ:IDRA) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.

IDRA has been the subject of a number of other research reports. BidaskClub raised shares of Idera Pharmaceuticals from a hold rating to a buy rating in a research report on Saturday, December 30th. HC Wainwright set a $4.00 target price on shares of Idera Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research raised shares of Idera Pharmaceuticals from a hold rating to a buy rating and set a $2.00 target price for the company in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Idera Pharmaceuticals currently has a consensus rating of Buy and an average target price of $4.83.

How to Become a New Pot Stock Millionaire

Shares of Idera Pharmaceuticals (NASDAQ IDRA) opened at $1.86 on Thursday. Idera Pharmaceuticals has a 52-week low of $1.32 and a 52-week high of $2.87.

In other Idera Pharmaceuticals news, major shareholder Invest Corp Pillar sold 200,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $2.40, for a total transaction of $480,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,600,000 shares of company stock valued at $7,111,000 in the last three months. Insiders own 12.42% of the company’s stock.

Several hedge funds have recently made changes to their positions in IDRA. Alliancebernstein L.P. grew 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 worth $155,000 after buying an additional 12,600 shares during the period. Teachers Advisors LLC grew its position in shares of Idera Pharmaceuticals by 12.0% during the 2nd quarter. Teachers Advisors LLC now owns 189,604 shares of the biotechnology company’s stock worth $326,000 after buying an additional 20,267 shares during the period. Northern Trust Corp grew its position in shares of Idera Pharmaceuticals by 9.4% during the 2nd quarter. Northern Trust Corp now owns 1,268,840 shares of the biotechnology company’s stock worth $2,183,000 after buying an additional 109,013 shares during the period. Vanguard Group Inc. grew its position in shares of Idera Pharmaceuticals by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,181,108 shares of the biotechnology company’s stock worth $8,911,000 after buying an additional 173,775 shares during the period. Finally, FMR LLC grew its position in shares of Idera Pharmaceuticals by 3.8% during the 2nd quarter. FMR LLC now owns 3,274,462 shares of the biotechnology company’s stock worth $5,632,000 after buying an additional 120,000 shares during the period. 36.58% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.watchlistnews.com/idera-pharmaceuticals-idra-downgraded-to-strong-sell-at-valuengine/1909026.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

Receive News & Ratings for Idera Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.