S&P Equity Research Raises Idera Pharmaceuticals Inc. (IDRA) Price Target to $2.10
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, August 4th. Wedbush reiterated an outperform rating and issued a $6.00 price target on shares of Idera Pharmaceuticals in a research note on Tuesday, August 2nd.
Idera Pharmaceuticals (NASDAQ:IDRA) opened at 1.81 on Friday. The company’s market capitalization is $219.69 million. Idera Pharmaceuticals has a one year low of $1.19 and a one year high of $4.42. The company has a 50-day moving average price of $2.20 and a 200-day moving average price of $1.81.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.11). Idera Pharmaceuticals had a negative net margin of 6,169.32% and a negative return on equity of 64.09%. Equities research analysts anticipate that Idera Pharmaceuticals will post ($0.45) EPS for the current year.
In other Idera Pharmaceuticals news, Director Julian Baker bought 3,250,000 shares of the firm’s stock in a transaction on Friday, October 7th. The shares were purchased at an average price of $2.00 per share, for a total transaction of $6,500,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 29.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Idera Pharmaceuticals by 10.7% in the second quarter. State Street Corp now owns 1,332,201 shares of the company’s stock worth $2,041,000 after buying an additional 129,033 shares during the last quarter. Rhumbline Advisers raised its position in shares of Idera Pharmaceuticals by 1.0% in the second quarter. Rhumbline Advisers now owns 88,364 shares of the company’s stock worth $135,000 after buying an additional 860 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Idera Pharmaceuticals by 19.8% in the second quarter. Alliancebernstein L.P. now owns 66,600 shares of the company’s stock worth $102,000 after buying an additional 11,000 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Idera Pharmaceuticals by 4.3% in the second quarter. BlackRock Fund Advisors now owns 2,332,615 shares of the company’s stock worth $3,569,000 after buying an additional 97,125 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its position in shares of 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.
Idera Pharmaceuticals Company Profile
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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