Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) Position Boosted by American International Group Inc.
American International Group Inc. boosted its position in shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 8.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,412 shares of the biotechnology company’s stock after buying an additional 4,214 shares during the period. American International Group Inc.’s holdings in Idera Pharmaceuticals were worth $137,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Oxford Asset Management purchased a new stake in shares of Idera Pharmaceuticals during the first quarter worth approximately $743,000. TFS Capital LLC purchased a new stake in shares of Idera Pharmaceuticals during the first quarter worth approximately $109,000. Wells Fargo & Company MN boosted its stake in shares of Idera Pharmaceuticals by 5.8% in the first quarter. Wells Fargo & Company MN now owns 91,479 shares of the biotechnology company’s stock worth $226,000 after buying an additional 5,000 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock worth $154,000 after buying an additional 4,235 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Idera Pharmaceuticals by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 154,886 shares of the biotechnology company’s stock worth $232,000 after buying an additional 14,205 shares in the last quarter. Hedge funds and other institutional investors own 31.30% of the company’s stock.
Shares of Idera Pharmaceuticals, Inc. (IDRA) opened at 1.85 on Monday. The stock’s 50 day moving average is $1.80 and its 200-day moving average is $1.87. The firm’s market cap is $275.92 million. Idera Pharmaceuticals, Inc. has a 1-year low of $1.30 and a 1-year high of $3.33.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results 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 the consensus estimate of $0.20 million. Idera Pharmaceuticals had a negative net margin of 249.48% and a negative return on equity of 53.37%. Analysts expect that Idera Pharmaceuticals, Inc. will post ($0.44) earnings per share for the current year.
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A number of brokerages have commented on IDRA. BidaskClub cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Robert W. Baird initiated coverage on shares of Idera Pharmaceuticals in a research note on Monday, April 24th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $6.00 target price on shares of Idera Pharmaceuticals in a research note on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Idera Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $4.57.
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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