Idera Pharmaceuticals Inc (NASDAQ:IDRA) Expected to Announce Earnings of -$0.33 Per Share

Wall Street brokerages expect Idera Pharmaceuticals Inc (NASDAQ:IDRA) to report earnings per share (EPS) of ($0.33) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Idera Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.41) and the highest is ($0.21). Idera Pharmaceuticals posted earnings of ($0.45) per share in the same quarter last year, which suggests a positive year over year growth rate of 26.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, March 4th.

On average, analysts expect that Idera Pharmaceuticals will report full-year earnings of ($1.48) per share for the current fiscal year, with EPS estimates ranging from ($1.59) to ($1.28). For the next financial year, analysts forecast that the firm will post earnings of ($1.20) per share, with EPS estimates ranging from ($1.79) to ($0.70). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Idera Pharmaceuticals.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.07.

A number of research firms recently commented on IDRA. HC Wainwright reaffirmed a “buy” rating on shares of Idera Pharmaceuticals in a research note on Thursday, November 7th. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Tuesday, November 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Idera Pharmaceuticals in a research note on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $7.69.

NASDAQ IDRA opened at $2.00 on Thursday. Idera Pharmaceuticals has a fifty-two week low of $1.67 and a fifty-two week high of $7.00. The business has a fifty day moving average of $2.33 and a 200-day moving average of $2.54. The stock has a market cap of $50.53 million, a price-to-earnings ratio of -0.88 and a beta of 2.20.

In other news, major shareholder Invest Corp Pillar sold 100,000 shares of Idera Pharmaceuticals stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $2.50, for a total value of $250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.46% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in shares of Idera Pharmaceuticals by 83.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 13,544 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 6,179 shares in the last quarter. Morgan Stanley lifted its position in Idera Pharmaceuticals by 127.5% during the 2nd quarter. Morgan Stanley now owns 11,460 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 6,422 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in Idera Pharmaceuticals in the 2nd quarter worth approximately $44,000. Vanguard Group Inc. boosted its holdings in Idera Pharmaceuticals by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 978,606 shares of the biotechnology company’s stock worth $2,613,000 after acquiring an additional 25,174 shares during the period. Finally, GSA Capital Partners LLP grew its position in Idera Pharmaceuticals by 50.2% in the second quarter. GSA Capital Partners LLP now owns 98,309 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 32,861 shares in the last quarter. Institutional investors own 32.69% 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.

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Earnings History and Estimates for Idera Pharmaceuticals (NASDAQ:IDRA)

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