Idera Pharmaceuticals Inc (NASDAQ:IDRA) Given Average Recommendation of “Buy” by Brokerages

Idera Pharmaceuticals Inc (NASDAQ:IDRA) has earned an average recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.67.

Several brokerages have recently weighed in on IDRA. JMP Securities reissued a “market outperform” rating and set a $7.00 price target on shares of Idera Pharmaceuticals in a research report on Thursday, September 5th. ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Idera Pharmaceuticals stock traded down $0.19 during trading on Friday, reaching $3.12. 361,121 shares of the company were exchanged, compared to its average volume of 315,844. The stock’s 50 day simple moving average is $2.48 and its two-hundred day simple moving average is $2.68. The company has a market capitalization of $92.76 million, a P/E ratio of -1.37 and a beta of 2.44. Idera Pharmaceuticals has a 52-week low of $2.08 and a 52-week high of $10.10.



Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Idera Pharmaceuticals had a negative return on equity of 76.99% and a negative net margin of 9,045.47%. The company had revenue of $1.45 million during the quarter, compared to analysts’ expectations of $0.10 million. Equities research analysts predict that Idera Pharmaceuticals will post -1.64 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in Idera Pharmaceuticals by 127.5% in the second quarter. Morgan Stanley now owns 11,460 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 6,422 shares during the period. Parametric Portfolio Associates LLC acquired a new position in shares of Idera Pharmaceuticals in the 2nd quarter valued at $44,000. Hollencrest Capital Management lifted its stake in shares of Idera Pharmaceuticals by 86.9% in the 2nd quarter. Hollencrest Capital Management now owns 40,321 shares of the biotechnology company’s stock valued at $108,000 after purchasing an additional 18,750 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Idera Pharmaceuticals by 45.3% during the 4th quarter. Deutsche Bank AG now owns 55,548 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 17,306 shares during the period. Finally, A.R.T. Advisors LLC grew its holdings in shares of Idera Pharmaceuticals by 96.0% during the 2nd quarter. A.R.T. Advisors LLC now owns 82,504 shares of the biotechnology company’s stock worth $220,000 after purchasing an additional 40,416 shares during the period. Hedge funds and other institutional investors own 36.09% of the company’s stock.

About Idera Pharmaceuticals

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.

Further Reading: Portfolio Manager

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