BidaskClub upgraded shares of Idera Pharmaceuticals (NASDAQ:IDRA) from a hold rating to a buy rating in a research note released on Saturday, December 30th.
A number of other equities analysts also recently commented on IDRA. Piper Jaffray Companies reissued a buy rating and set a $4.00 price objective on shares of Idera Pharmaceuticals in a research report on Tuesday, September 12th. Zacks Investment Research raised Idera Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, October 11th. Finally, HC Wainwright initiated coverage on Idera Pharmaceuticals in a research report on Thursday, November 9th. They set a buy rating and a $4.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Idera Pharmaceuticals has an average rating of Buy and an average price target of $4.83.
Shares of Idera Pharmaceuticals (NASDAQ:IDRA) opened at $2.49 on Friday. Idera Pharmaceuticals has a one year low of $1.30 and a one year high of $2.87.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.20 million. equities analysts predict that Idera Pharmaceuticals will post -0.42 earnings per share for the current year.
In related news, major shareholder Invest Corp Pillar sold 2,300,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $1.96, for a total value of $4,508,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 8,000,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was acquired at an average cost of $1.50 per share, with a total value of $12,000,000.00. The disclosure for this purchase can be found here. Corporate insiders own 12.42% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IDRA. Rhumbline Advisers lifted its stake in Idera Pharmaceuticals by 0.3% in the second quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 312 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Idera Pharmaceuticals by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 343,761 shares of the biotechnology company’s stock valued at $591,000 after buying an additional 2,368 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Idera Pharmaceuticals by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 94,976 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 6,316 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Idera Pharmaceuticals by 16.3% in the second quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after buying an additional 12,600 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in Idera Pharmaceuticals by 12.0% in the second quarter. Teachers Advisors LLC now owns 189,604 shares of the biotechnology company’s stock valued at $326,000 after buying an additional 20,267 shares during the last quarter. 24.14% of the stock is owned by hedge funds and other institutional investors.
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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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