Shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) traded up 5% during mid-day trading on Tuesday . The stock traded as high as $2.59 and last traded at $2.52. 1,389,276 shares changed hands during mid-day trading, an increase of 35% from the average session volume of 1,029,680 shares. The stock had previously closed at $2.40.

IDRA has been the subject of several research reports. ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $4.00 price target on shares of Idera Pharmaceuticals in a research report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Idera Pharmaceuticals has a consensus rating of “Hold” and an average price target of $5.75.

The firm’s market capitalization is $359.11 million. The firm has a 50-day moving average price of $2.25 and a 200 day moving average price of $1.98.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). The firm had revenue of $0.19 million for the quarter, compared to the consensus estimate of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. Equities research analysts expect that Idera Pharmaceuticals, Inc. will post ($0.48) EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 173,775 shares during the period. FMR LLC grew its stake in shares of Idera Pharmaceuticals by 3.8% during the 2nd quarter. FMR LLC now owns 3,274,462 shares of the biotechnology company’s stock valued at $5,632,000 after acquiring an additional 120,000 shares during the period. State Street Corp grew its stake in shares of 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 during the period. Northern Trust Corp grew its stake in shares of Idera Pharmaceuticals by 9.4% during the 2nd quarter. Northern Trust Corp now owns 1,268,840 shares of the biotechnology company’s stock valued at $2,183,000 after acquiring an additional 109,013 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Idera Pharmaceuticals by 6.0% during the 1st quarter. Geode Capital Management LLC now owns 919,446 shares of the biotechnology company’s stock valued at $2,271,000 after acquiring an additional 51,942 shares during the period. Institutional investors and hedge funds own 30.94% of the company’s stock.

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About Idera Pharmaceuticals

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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