Idera Pharmaceuticals Inc (NASDAQ:IDRA) major shareholder Invest Corp Pillar sold 55,000 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $6.30, for a total transaction of $346,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Invest Corp Pillar also recently made the following trade(s):

  • On Tuesday, August 7th, Invest Corp Pillar sold 166,893 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $5.58, for a total transaction of $931,262.94.
  • On Friday, July 20th, Invest Corp Pillar sold 2,773,567 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $0.86, for a total transaction of $2,385,267.62.
  • On Friday, July 13th, Invest Corp Pillar sold 250,500 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $1.05, for a total transaction of $263,025.00.
  • On Tuesday, July 17th, Invest Corp Pillar sold 1,860,776 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $1.01, for a total transaction of $1,879,383.76.

IDRA stock opened at $8.80 on Friday. Idera Pharmaceuticals Inc has a 52 week low of $5.20 and a 52 week high of $22.96. The firm has a market cap of $169.84 million, a price-to-earnings ratio of -2.62 and a beta of 1.34.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.82) by $0.23. Idera Pharmaceuticals had a negative net margin of 8,686.36% and a negative return on equity of 74.17%. The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.18 million. equities research analysts forecast that Idera Pharmaceuticals Inc will post -2.63 EPS for the current fiscal year.

IDRA has been the subject of a number of research reports. JPMorgan Chase & Co. began coverage on shares of Idera Pharmaceuticals in a research report on Wednesday. They set an “overweight” rating and a $15.00 target price for the company. Wedbush lowered their price objective on shares of Idera Pharmaceuticals from $40.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, July 16th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Idera Pharmaceuticals in a research report on Monday, August 6th. ValuEngine upgraded shares of Idera Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, BidaskClub upgraded shares of Idera Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. Idera Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $22.79.

A number of hedge funds have recently added to or reduced their stakes in IDRA. Wells Fargo & Company MN lifted its position in Idera Pharmaceuticals by 36.8% during the fourth quarter. Wells Fargo & Company MN now owns 194,892 shares of the biotechnology company’s stock valued at $411,000 after purchasing an additional 52,469 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Idera Pharmaceuticals by 30.0% in the 4th quarter. Bank of New York Mellon Corp now owns 446,053 shares of the biotechnology company’s stock worth $941,000 after acquiring an additional 102,865 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Idera Pharmaceuticals by 27.8% in the 4th quarter. Geode Capital Management LLC now owns 1,276,263 shares of the biotechnology company’s stock worth $2,692,000 after acquiring an additional 277,566 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Idera Pharmaceuticals by 220.7% in the 4th quarter. Deutsche Bank AG now owns 310,011 shares of the biotechnology company’s stock worth $653,000 after acquiring an additional 213,336 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Idera Pharmaceuticals by 29.7% in the 4th quarter. Teachers Advisors LLC now owns 263,412 shares of the biotechnology company’s stock worth $556,000 after acquiring an additional 60,355 shares during the last quarter.

About Idera Pharmaceuticals

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.

Further Reading: Analyst Ratings

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