Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) traded up 5.1% on Friday . The company traded as high as $2.11 and last traded at $2.08. 1,923,900 shares traded hands during trading, an increase of 30% from the average session volume of 1,474,922 shares. The stock had previously closed at $1.98.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Piper Jaffray Companies reissued a “buy” rating and set a $4.00 price objective on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th. HC Wainwright set a $4.00 price objective on shares of Idera Pharmaceuticals and gave the company a “buy” rating in a report on Thursday. BidaskClub lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, ValuEngine lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $4.83.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its 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 company had revenue of $0.16 million during 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%. research analysts anticipate that Idera Pharmaceuticals, Inc. will post -0.42 EPS for the current year.

In other Idera Pharmaceuticals news, Director Bros. Advisors Lp Baker bought 8,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was bought at an average cost of $1.50 per share, for a total transaction of $12,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.29% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL lifted its position in Idera Pharmaceuticals by 48.8% during the first quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 13,572 shares during the period. State of Wisconsin Investment Board acquired a new position in shares of Idera Pharmaceuticals in the second quarter worth about $136,000. American International Group Inc. raised its position in shares of Idera Pharmaceuticals by 8.2% in the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock worth $137,000 after acquiring an additional 4,214 shares during the period. Alliancebernstein L.P. raised its position in shares of Idera Pharmaceuticals by 16.3% in the second quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 12,600 shares during the period. Finally, Wedbush Securities Inc. raised its position in shares of Idera Pharmaceuticals by 3.0% in the second quarter. Wedbush Securities Inc. now owns 93,428 shares of the biotechnology company’s stock worth $161,000 after acquiring an additional 2,700 shares during the period. Institutional investors own 23.73% of the company’s stock.

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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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