Idera Pharmaceuticals, Inc. (IDRA) Given Average Recommendation of “Hold” by Analysts
Shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) have been given an average rating of “Hold” by the eight brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.28.
A number of research firms have weighed in on IDRA. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. BidaskClub lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. ValuEngine lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Robert W. Baird began coverage on shares of Idera Pharmaceuticals in a research note on Monday, April 24th. They issued an “outperform” rating and a $5.00 price objective on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDRA. KCG Holdings Inc. raised its position in Idera Pharmaceuticals by 70.8% in the first quarter. KCG Holdings Inc. now owns 143,471 shares of the biotechnology company’s stock worth $354,000 after buying an additional 59,452 shares during the last quarter. Geode Capital Management LLC raised its position in Idera Pharmaceuticals by 6.0% in the first quarter. Geode Capital Management LLC now owns 919,446 shares of the biotechnology company’s stock worth $2,271,000 after buying an additional 51,942 shares during the last quarter. Vanguard Group Inc. raised its position in Idera Pharmaceuticals by 3.3% in the first quarter. Vanguard Group Inc. now owns 5,007,333 shares of the biotechnology company’s stock worth $12,368,000 after buying an additional 159,828 shares during the last quarter. Royce & Associates LP purchased a new position in Idera Pharmaceuticals during the first quarter worth $1,147,000. Finally, FMR LLC raised its position in Idera Pharmaceuticals by 25.6% in the first quarter. FMR LLC now owns 3,154,462 shares of the biotechnology company’s stock worth $7,792,000 after buying an additional 642,762 shares during the last quarter. 31.37% of the stock is currently owned by institutional investors.
Idera Pharmaceuticals (NASDAQ IDRA) opened at 1.73 on Friday. The stock’s 50 day moving average is $1.83 and its 200-day moving average is $1.89. The company’s market capitalization is $258.86 million. Idera Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $3.33.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. The business had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.20 million. On average, analysts expect that Idera Pharmaceuticals will post ($0.49) EPS for the current year.
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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