Shares of Idera Pharmaceuticals Inc. (NASDAQ:IDRA) were up 4.6% during mid-day trading on Wednesday . The company traded as high as $2.09 and last traded at $2.04, with a volume of 874,000 shares trading hands. The stock had previously closed at $1.95.

A number of analysts recently issued reports on IDRA shares. Wedbush reissued an “outperform” rating and set a $6.00 price objective on shares of Idera Pharmaceuticals in a research report on Tuesday, August 2nd. Cowen and Company reaffirmed a “buy” rating on shares of Idera Pharmaceuticals in a research report on Tuesday, May 10th. Finally, Zacks Investment Research cut Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th.

The firm has a 50 day moving average price of $1.77 and a 200 day moving average price of $1.73. The company’s market capitalization is $237.90 million.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.11). Equities analysts expect that Idera Pharmaceuticals Inc. will post ($0.44) EPS for the current fiscal year.

A hedge fund recently bought a new stake in Idera Pharmaceuticals stock. Marshall Wace LLP acquired a new position in shares of Idera Pharmaceuticals Inc. (NASDAQ:IDRA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 769,105 shares of the company’s stock, valued at approximately $2,377,000. Marshall Wace LLP owned approximately 0.65% of Idera Pharmaceuticals as of its most recent filing with the SEC.

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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