Idera Pharmaceuticals, Inc. (IDRA) Shares Up 0%
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) shot up 0% during trading on Thursday . The stock traded as high as $2.10 and last traded at $2.02. 6,420,881 shares changed hands during trading, an increase of 64% from the average session volume of 3,913,266 shares. The stock had previously closed at $2.02.
Several research firms have commented on IDRA. HC Wainwright began coverage on Idera Pharmaceuticals in a research note on Thursday. They set a “buy” rating and a $4.00 price objective for the company. Zacks Investment Research upgraded Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Thursday. ValuEngine upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $4.00 price objective 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 given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $4.83.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Idera Pharmaceuticals had a negative return on equity of 60.80% and a negative net margin of 313.78%. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.20 million. research analysts expect that Idera Pharmaceuticals, Inc. will post -0.47 earnings per share for the current fiscal year.
In other Idera Pharmaceuticals news, Director Bros. Advisors Lp Baker acquired 8,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were purchased at an average cost of $1.50 per share, for a total transaction of $12,000,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 30.29% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 valued at $12,368,000 after purchasing an additional 159,828 shares during the period. Alps Advisors Inc. purchased a new stake in Idera Pharmaceuticals in the second quarter valued at approximately $232,000. 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 valued at $7,792,000 after purchasing an additional 642,762 shares during the period. 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 valued at $354,000 after purchasing an additional 59,452 shares during the period. Finally, Nationwide Fund Advisors raised its position in Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 4,235 shares during the period. 25.28% of the stock is currently owned by institutional investors.
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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