Idera Pharmaceuticals (NASDAQ:IDRA) Stock Price Up 5.3%

Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) rose 5.3% during mid-day trading on Tuesday . The company traded as high as $2.42 and last traded at $2.39, approximately 163,817 shares were traded during trading. A decline of 51% from the average daily volume of 331,726 shares. The stock had previously closed at $2.27.

Several equities analysts recently issued reports on IDRA shares. Zacks Investment Research downgraded Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Wedbush reaffirmed an “outperform” rating on shares of Idera Pharmaceuticals in a research note on Friday, May 3rd. Finally, ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.65.

The firm’s 50 day moving average is $2.55. The stock has a market capitalization of $66.97 million, a price-to-earnings ratio of -1.05 and a beta of 2.45.



Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.03. The company had revenue of $1.45 million during the quarter, compared to analyst estimates of $0.10 million. Idera Pharmaceuticals had a negative net margin of 9,045.47% and a negative return on equity of 71.91%. Sell-side analysts predict that Idera Pharmaceuticals Inc will post -1.64 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Idera Pharmaceuticals by 1.3% in the 4th quarter. BlackRock Inc. now owns 1,478,231 shares of the biotechnology company’s stock worth $4,094,000 after buying an additional 19,046 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Idera Pharmaceuticals in the 4th quarter worth approximately $61,000. Geode Capital Management LLC grew its stake in shares of Idera Pharmaceuticals by 3.8% in the 4th 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 last quarter. Two Sigma Advisers LP grew its stake in shares of Idera Pharmaceuticals by 22.7% in the 4th 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 last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of 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 buying an additional 9,952 shares during the period. Institutional investors own 42.91% of the company’s stock.

Idera Pharmaceuticals Company Profile (NASDAQ:IDRA)

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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