HC Wainwright set a $4.00 price objective on Idera Pharmaceuticals (NASDAQ:IDRA) in a report released on Friday, March 9th. The brokerage currently has a buy rating on the biotechnology company’s stock.
A number of other brokerages also recently commented on IDRA. Zacks Investment Research downgraded shares of Idera Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, January 17th. BidaskClub downgraded shares of Idera Pharmaceuticals from a strong-buy rating to a buy rating in a report on Thursday, January 25th. Finally, ValuEngine downgraded shares of Idera Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $4.20.
Shares of NASDAQ:IDRA traded down $0.22 during trading on Friday, reaching $1.62. The company’s stock had a trading volume of 2,017,483 shares, compared to its average volume of 1,863,561. Idera Pharmaceuticals has a 12 month low of $1.32 and a 12 month high of $2.87. The company has a market cap of $359.97, a price-to-earnings ratio of -3.86 and a beta of 2.35.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Wednesday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.08). Idera Pharmaceuticals had a negative net margin of 7,315.30% and a negative return on equity of 78.83%. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.30 million. equities research analysts predict that Idera Pharmaceuticals will post -0.37 earnings per share for the current fiscal year.
In other Idera Pharmaceuticals news, major shareholder Invest Corp Pillar sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $2.40, for a total value of $480,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.42% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in IDRA. 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 worth $155,000 after purchasing an additional 12,600 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Idera Pharmaceuticals in the fourth quarter worth about $155,000. 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 worth $164,000 after purchasing an additional 6,316 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Idera Pharmaceuticals during the fourth quarter worth approximately $177,000. Finally, Ardsley Advisory Partners purchased a new position in shares of Idera Pharmaceuticals during the fourth quarter worth approximately $211,000. 36.55% of the stock is owned by institutional investors and hedge funds.
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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