Wedbush Reiterates “Outperform” Rating for Idera Pharmaceuticals Inc. (IDRA)
Separately, Zacks Investment Research downgraded Idera Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, August 4th.
Shares of Idera Pharmaceuticals (NASDAQ:IDRA) opened at 2.31 on Monday. Idera Pharmaceuticals has a 52-week low of $1.19 and a 52-week high of $4.42. The stock’s 50 day moving average price is $2.12 and its 200-day moving average price is $1.80. The company’s market capitalization is $280.38 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.11). Idera Pharmaceuticals had a negative return on equity of 64.09% and a negative net margin of 6,169.32%. On average, analysts expect that Idera Pharmaceuticals will post ($0.45) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of IDRA. JPMorgan Chase & Co. increased its position in Idera Pharmaceuticals by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 3,349,700 shares of the company’s stock worth $6,632,000 after buying an additional 187,625 shares in the last quarter. Geode Capital Management LLC increased its position in Idera Pharmaceuticals by 0.6% in the first quarter. Geode Capital Management LLC now owns 680,280 shares of the company’s stock worth $1,346,000 after buying an additional 4,263 shares in the last quarter. Creative Planning increased its position in Idera Pharmaceuticals by 11.8% in the second quarter. Creative Planning now owns 121,300 shares of the company’s stock worth $186,000 after buying an additional 12,800 shares in the last quarter. California State Teachers Retirement System increased its position in Idera Pharmaceuticals by 1.9% in the second quarter. California State Teachers Retirement System now owns 186,693 shares of the company’s stock worth $286,000 after buying an additional 3,478 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in Idera Pharmaceuticals by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 334,389 shares of the company’s stock worth $512,000 after buying an additional 22,791 shares during the last quarter. Hedge funds and other institutional investors own 28.44% 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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