Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) traded down 2.3% on Tuesday . The company traded as low as $1.27 and last traded at $1.33. 31,227 shares changed hands during trading, a decline of 99% from the average session volume of 2,236,624 shares. The stock had previously closed at $1.30.
A number of 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 Saturday. BidaskClub downgraded shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Robert W. Baird cut their price target on shares of Idera Pharmaceuticals from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, June 13th. JMP Securities lowered their price objective on shares of Idera Pharmaceuticals from $8.00 to $4.00 and set a “positive” rating for the company in a research report on Wednesday, June 13th. Finally, ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.60.
The stock has a market capitalization of $312.93 million, a PE ratio of -3.17 and a beta of 2.41.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Wednesday, May 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The company had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.17 million. Idera Pharmaceuticals had a negative return on equity of 82.70% and a negative net margin of 9,117.07%. research analysts predict that Idera Pharmaceuticals Inc will post -0.39 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in Idera Pharmaceuticals during the 4th quarter worth approximately $155,000. Ardsley Advisory Partners acquired a new position in Idera Pharmaceuticals during the 4th quarter worth approximately $211,000. New York State Common Retirement Fund increased its position in Idera Pharmaceuticals by 41.3% during the 1st quarter. New York State Common Retirement Fund now owns 136,100 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 39,800 shares in the last quarter. Bluefin Trading LLC acquired a new position in Idera Pharmaceuticals during the 1st quarter worth approximately $329,000. Finally, Wells Fargo & Company MN increased its position in Idera Pharmaceuticals by 36.8% during the 4th quarter. Wells Fargo & Company MN now owns 194,892 shares of the biotechnology company’s stock worth $411,000 after purchasing an additional 52,469 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.
About Idera Pharmaceuticals
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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