Idera Pharmaceuticals, Inc. (IDRA) Coverage Initiated by Analysts at HC Wainwright
HC Wainwright started coverage on shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) in a research report sent to investors on Thursday morning. The firm issued a buy rating and a $4.00 price objective on the biotechnology company’s stock.
Several other research analysts have also recently commented on IDRA. BidaskClub cut shares of Idera Pharmaceuticals from a hold rating to a sell rating in a report on Friday, August 4th. Zacks Investment Research cut shares of Idera Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, August 10th. ValuEngine cut shares of Idera Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Finally, Piper Jaffray Companies reiterated a buy rating and set a $4.00 price target on shares of Idera Pharmaceuticals in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $4.83.
Idera Pharmaceuticals (IDRA) traded up $0.09 on Thursday, reaching $2.11. 3,794,700 shares of the company were exchanged, compared to its average volume of 1,456,480. Idera Pharmaceuticals has a 52-week low of $1.30 and a 52-week high of $2.87.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business 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%. analysts anticipate that Idera Pharmaceuticals will post -0.47 EPS for the current fiscal year.
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In related news, Director Bros. Advisors Lp Baker purchased 8,000,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was acquired at an average price of $1.50 per share, for a total transaction of $12,000,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 30.29% of the company’s stock.
A number of large investors have recently bought and sold shares of IDRA. JPMorgan Chase & Co. increased its holdings in Idera Pharmaceuticals by 45.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,359,875 shares of the biotechnology company’s stock valued at $7,526,000 after acquiring an additional 1,048,475 shares in the last quarter. FMR LLC increased its holdings in Idera Pharmaceuticals by 25.6% during the 1st quarter. FMR LLC now owns 3,154,462 shares of the biotechnology company’s stock valued at $7,792,000 after acquiring an additional 642,762 shares in the last quarter. State Street Corp increased its holdings in Idera Pharmaceuticals by 13.0% during the 2nd quarter. State Street Corp now owns 1,787,852 shares of the biotechnology company’s stock valued at $3,075,000 after acquiring an additional 205,217 shares in the last quarter. Vanguard Group Inc. increased its holdings in Idera Pharmaceuticals by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,181,108 shares of the biotechnology company’s stock valued at $8,911,000 after acquiring an additional 173,775 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 25.28% of the company’s stock.
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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