Idera Pharmaceuticals Inc (NASDAQ:IDRA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, May 5th.
According to Zacks, “Idera Pharmaceuticals, Inc. is a drug discovery and development company that is developing drug candidates to treat cancer and infectious, respiratory, and autoimmune diseases, and for use in combination with therapeutic and prophylactic vaccines. Idera’s proprietary drug candidates are designed to modulate Toll-like Receptors, the body’s first line of immune defense. Idera’s pioneering DNA chemistry expertise enables it to identify drug candidates for internal development and creates opportunities for multiple collaborative alliances. “
A number of other equities analysts have also weighed in on IDRA. Wedbush reissued an “outperform” rating and set a $6.00 price objective on shares of Idera Pharmaceuticals in a research note on Tuesday, January 31st. JMP Securities started coverage on Idera Pharmaceuticals in a research note on Wednesday, March 22nd. They set an “outperform” rating and a $8.00 price objective on the stock. Finally, Robert W. Baird started coverage on Idera Pharmaceuticals in a research note on Monday, April 24th. They set an “outperform” rating and a $5.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $4.57.
Idera Pharmaceuticals (NASDAQ:IDRA) traded down 2.27% on Friday, hitting $1.72. 624,424 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $2.14 and a 200-day moving average price of $1.83. Idera Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $3.33. The stock’s market cap is $256.53 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.10) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The company had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative return on equity of 76.66% and a negative net margin of 4,621.03%. Equities analysts predict that Idera Pharmaceuticals will post ($0.44) earnings per share for the current fiscal year.
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In other Idera Pharmaceuticals news, Director Invest Corp Pillar sold 450,815 shares of Idera Pharmaceuticals stock in a transaction on Monday, May 1st. The stock was sold at an average price of $2.26, for a total value of $1,018,841.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 2,217,066 shares of company stock worth $5,063,557 in the last 90 days. Company insiders own 29.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL increased its stake in Idera Pharmaceuticals by 48.8% in the first quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock worth $102,000 after buying an additional 13,572 shares in the last quarter. TFS Capital LLC acquired a new stake in Idera Pharmaceuticals during the first quarter worth approximately $109,000. Wells Fargo & Company MN increased its stake in Idera Pharmaceuticals by 120.6% in the third quarter. Wells Fargo & Company MN now owns 46,810 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 25,589 shares in the last quarter. American International Group Inc. increased its stake in Idera Pharmaceuticals by 8.2% in the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock valued at $137,000 after buying an additional 4,214 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 4,235 shares in the last quarter. Institutional investors own 23.23% of the company’s stock.
About Idera Pharmaceuticals
Idera Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutics for oncology and rare diseases. The Company utilizes two drug discovery technology platforms to design and develop drug candidates, which include Toll-like receptor (TLR) targeting technology and third-generation antisense (3GA) technology.
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