Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) have earned an average recommendation of “Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $19.00.
IDRA has been the topic of several research analyst reports. Zacks Investment Research cut Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. HC Wainwright reduced their target price on Idera Pharmaceuticals to $14.00 and set a “buy” rating on the stock in a research note on Friday, March 8th. Wedbush set a $7.00 target price on Idera Pharmaceuticals and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, ValuEngine raised Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.
Shares of IDRA traded down $0.01 during mid-day trading on Tuesday, hitting $2.80. 114,434 shares of the company’s stock traded hands, compared to its average volume of 323,207. Idera Pharmaceuticals has a 1 year low of $2.25 and a 1 year high of $17.12. The stock has a market capitalization of $77.61 million, a PE ratio of -1.23 and a beta of 2.55.
Idera Pharmaceuticals (NASDAQ:IDRA) last posted its earnings results on Wednesday, March 6th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.06. Idera Pharmaceuticals had a negative return on equity of 75.10% and a negative net margin of 9,045.47%. The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.12 million. As a group, analysts forecast that Idera Pharmaceuticals will post -1.89 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Citigroup Inc. grew its stake in Idera Pharmaceuticals by 11.9% in the fourth quarter. Citigroup Inc. now owns 46,819 shares of the biotechnology company’s stock worth $130,000 after purchasing an additional 4,971 shares during the period. Two Sigma Advisers LP grew its stake in Idera Pharmaceuticals by 22.7% in the fourth quarter. Two Sigma Advisers LP now owns 29,607 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 5,475 shares during the period. Squarepoint Ops LLC grew its stake in Idera Pharmaceuticals by 45.5% in the fourth quarter. Squarepoint Ops LLC now owns 18,900 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 5,910 shares during the period. Geode Capital Management LLC grew its stake in Idera Pharmaceuticals by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 230,577 shares of the biotechnology company’s stock worth $638,000 after purchasing an additional 8,468 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in Idera Pharmaceuticals by 22.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 53,880 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 9,952 shares during the period. 44.71% of the stock is currently owned by institutional investors.
Idera Pharmaceuticals Company Profile
Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for oncology in the United States. It offers Tilsotolimod, a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, metastatic melanoma, squamous cell carcinoma, and colorectal cancer.
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