Idera Pharmaceuticals (NASDAQ:IDRA) Share Price Crosses Above 200 Day Moving Average of $1.75

Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.75 and traded as high as $2.00. Idera Pharmaceuticals shares last traded at $1.99, with a volume of 140,812 shares changing hands.

A number of research firms have commented on IDRA. Wedbush reaffirmed an “outperform” rating on shares of Idera Pharmaceuticals in a research note on Tuesday, May 5th. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 13th. ValuEngine raised shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Idera Pharmaceuticals in a research note on Monday, April 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Idera Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $6.25.

The business has a fifty day moving average price of $1.96 and a two-hundred day moving average price of $1.75.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Thursday, April 30th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). On average, equities research analysts expect that Idera Pharmaceuticals Inc will post -1.32 earnings per share for the current year.

In other Idera Pharmaceuticals news, major shareholder Invest Corp Pillar bought 749,993 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were bought at an average price of $1.72 per share, for a total transaction of $1,289,987.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in IDRA. Renaissance Technologies LLC increased its holdings in Idera Pharmaceuticals by 61.2% in the fourth quarter. Renaissance Technologies LLC now owns 545,037 shares of the biotechnology company’s stock worth $992,000 after buying an additional 207,012 shares during the last quarter. Aperio Group LLC acquired a new position in Idera Pharmaceuticals in the first quarter worth approximately $27,000. DCF Advisers LLC increased its holdings in Idera Pharmaceuticals by 109.9% in the first quarter. DCF Advisers LLC now owns 107,181 shares of the biotechnology company’s stock worth $141,000 after buying an additional 56,130 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in Idera Pharmaceuticals in the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 25.66% 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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