Idera Pharmaceuticals (NASDAQ:IDRA) has been given a $4.00 price objective by analysts at HC Wainwright in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 102.02% from the company’s previous close.

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

Shares of Idera Pharmaceuticals (NASDAQ IDRA) opened at $1.98 on Tuesday. Idera Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $2.87. The firm has a market cap of $420.92, a P/E ratio of -6.00 and a beta of 2.19.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its earnings results on Monday, November 6th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. Idera Pharmaceuticals had a negative net margin of 313.78% and a negative return on equity of 60.80%. The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.20 million. research analysts expect that Idera Pharmaceuticals will post -0.42 earnings per share for the current year.

In other Idera Pharmaceuticals news, major shareholder Invest Corp Pillar sold 200,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $2.40, for a total value of $480,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 3,600,000 shares of company stock valued at $7,111,000. Insiders own 12.42% of the company’s stock.

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Idera Pharmaceuticals by 45.4% in the third quarter. JPMorgan Chase & Co. now owns 3,359,875 shares of the biotechnology company’s stock worth $7,526,000 after acquiring an additional 1,048,475 shares in the last quarter. State Street Corp grew its stake in shares of Idera Pharmaceuticals by 13.0% in the second quarter. State Street Corp now owns 1,787,852 shares of the biotechnology company’s stock worth $3,075,000 after acquiring an additional 205,217 shares in the last quarter. FMR LLC grew its stake in shares of Idera Pharmaceuticals by 3.8% in the second quarter. FMR LLC now owns 3,274,462 shares of the biotechnology company’s stock worth $5,632,000 after acquiring an additional 120,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Idera Pharmaceuticals by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,181,108 shares of the biotechnology company’s stock worth $8,911,000 after acquiring an additional 173,775 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Idera Pharmaceuticals by 9.4% in the second quarter. Northern Trust Corp now owns 1,268,840 shares of the biotechnology company’s stock worth $2,183,000 after acquiring an additional 109,013 shares in the last quarter. Institutional investors and hedge funds own 24.14% of the company’s stock.

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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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