Idera Pharmaceuticals Inc (IDRA) Expected to Announce Earnings of -$0.49 Per Share

Wall Street brokerages expect that Idera Pharmaceuticals Inc (NASDAQ:IDRA) will post ($0.49) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Idera Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.56) and the highest is ($0.45). Idera Pharmaceuticals reported earnings of ($0.64) per share in the same quarter last year, which would suggest a positive year over year growth rate of 23.4%. The firm is expected to report its next earnings report on Wednesday, March 6th.

On average, analysts expect that Idera Pharmaceuticals will report full-year earnings of ($2.31) per share for the current year, with EPS estimates ranging from ($2.37) to ($2.25). For the next financial year, analysts forecast that the business will post earnings of ($1.90) per share, with EPS estimates ranging from ($2.49) to ($1.50). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Idera Pharmaceuticals.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.43) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.15. Idera Pharmaceuticals had a negative return on equity of 69.28% and a negative net margin of 8,513.18%. The company had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $2.09 million.

IDRA has been the subject of a number of recent research reports. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Barclays initiated coverage on Idera Pharmaceuticals in a research note on Monday, September 24th. They set an “overweight” rating and a $14.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Idera Pharmaceuticals in a research note on Monday, August 6th. JPMorgan Chase & Co. initiated coverage on Idera Pharmaceuticals in a research note on Wednesday, August 15th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, ValuEngine lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $20.71.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sphera Funds Management LTD. bought a new stake in shares of Idera Pharmaceuticals during the third quarter valued at approximately $3,970,000. Renaissance Technologies LLC bought a new stake in shares of Idera Pharmaceuticals during the third quarter valued at approximately $132,000. Candriam Luxembourg S.C.A. bought a new stake in shares of Idera Pharmaceuticals during the third quarter valued at approximately $1,737,000. Northern Trust Corp boosted its position in shares of Idera Pharmaceuticals by 7.8% during the second quarter. Northern Trust Corp now owns 1,775,754 shares of the biotechnology company’s stock valued at $2,344,000 after purchasing an additional 128,334 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Idera Pharmaceuticals by 20.9% during the second quarter. California Public Employees Retirement System now owns 194,217 shares of the biotechnology company’s stock valued at $256,000 after purchasing an additional 33,617 shares in the last quarter.

NASDAQ IDRA opened at $6.70 on Tuesday. The stock has a market cap of $175.05 million, a price-to-earnings ratio of -1.99 and a beta of 2.66. Idera Pharmaceuticals has a fifty-two week low of $5.20 and a fifty-two week high of $20.40.

About Idera Pharmaceuticals

Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States. The company uses two drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and nucleic acid chemistry technology.

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