Equities research analysts forecast that Idera Pharmaceuticals Inc (NASDAQ:IDRA) will report sales of $120,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Idera Pharmaceuticals’ earnings, with the highest sales estimate coming in at $150,000.00 and the lowest estimate coming in at $90,000.00. Idera Pharmaceuticals reported sales of $170,000.00 during the same quarter last year, which would suggest a negative year over year growth rate of 29.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, March 6th.
According to Zacks, analysts expect that Idera Pharmaceuticals will report full year sales of $620,000.00 for the current financial year, with estimates ranging from $560,000.00 to $710,000.00. For the next year, analysts forecast that the firm will report sales of $500,000.00, with estimates ranging from $420,000.00 to $580,000.00. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Idera Pharmaceuticals.
Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.15. Idera Pharmaceuticals had a negative return on equity of 69.28% and a negative net margin of 8,513.18%. The firm had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $2.09 million.
A number of equities analysts recently issued reports on IDRA shares. Barclays started coverage on Idera Pharmaceuticals in a report on Monday, September 24th. They issued an “overweight” rating and a $14.00 target price on the stock. Zacks Investment Research upgraded Idera Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a report on Saturday, November 10th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Idera Pharmaceuticals in a report on Monday, October 22nd. Wedbush restated a “positive” rating on shares of Idera Pharmaceuticals in a research note on Monday, December 17th. Finally, ValuEngine upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Idera Pharmaceuticals presently has an average rating of “Buy” and an average price target of $19.79.
In other Idera Pharmaceuticals news, CEO Vincent Milano bought 15,000 shares of the firm’s stock in a transaction dated Monday, December 24th. The stock was purchased at an average cost of $2.93 per share, with a total value of $43,950.00. Following the transaction, the chief executive officer now directly owns 55,816 shares in the company, valued at approximately $163,540.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 24,300 shares of company stock valued at $73,835. Insiders own 20.48% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Idera Pharmaceuticals by 20.3% during the 2nd quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 24,461 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Idera Pharmaceuticals in the 3rd quarter worth about $1,737,000. Marshall Wace LLP purchased a new stake in Idera Pharmaceuticals in the 3rd quarter worth about $200,000. Marshall Wace North America L.P. purchased a new stake in Idera Pharmaceuticals in the 3rd quarter worth about $96,000. Finally, Northern Trust Corp increased its holdings in Idera Pharmaceuticals by 7.8% in the 2nd quarter. Northern Trust Corp now owns 1,775,754 shares of the biotechnology company’s stock worth $2,344,000 after acquiring an additional 128,334 shares during the last quarter. 43.46% of the stock is owned by hedge funds and other institutional investors.
Shares of IDRA traded down $0.03 during trading hours on Monday, reaching $2.93. The stock had a trading volume of 443,243 shares, compared to its average volume of 289,362. Idera Pharmaceuticals has a 12 month low of $2.65 and a 12 month high of $20.40. The stock has a market cap of $80.46 million, a P/E ratio of -0.87 and a beta of 2.88.
Idera Pharmaceuticals Company Profile
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.
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