Idera Pharmaceuticals, Inc. (IDRA) Holdings Increased by Alliancebernstein L.P.
Alliancebernstein L.P. raised its holdings in shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 89,900 shares of the biotechnology company’s stock after purchasing an additional 12,600 shares during the period. Alliancebernstein L.P. owned approximately 0.06% of Idera Pharmaceuticals worth $155,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Tudor Investment Corp ET AL boosted its stake in Idera Pharmaceuticals by 48.8% during the 1st quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 13,572 shares during the last quarter. American International Group Inc. boosted its stake in Idera Pharmaceuticals by 8.2% during the 1st quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 4,214 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in Idera Pharmaceuticals during the 2nd quarter valued at $136,000. Wells Fargo & Company MN boosted its stake in Idera Pharmaceuticals by 5.8% during the 1st quarter. Wells Fargo & Company MN now owns 91,479 shares of the biotechnology company’s stock valued at $226,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its stake in Idera Pharmaceuticals by 3.0% during the 2nd quarter. Wedbush Securities Inc. now owns 93,428 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 23.73% of the company’s stock.
In related news, Director Bros. Advisors Lp Baker bought 8,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were bought at an average cost of $1.50 per share, with a total value of $12,000,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 30.29% of the stock is currently owned by company insiders.
Idera Pharmaceuticals, Inc. (NASDAQ IDRA) opened at $1.98 on Thursday. Idera Pharmaceuticals, Inc. has a twelve month low of $1.30 and a twelve month high of $2.87.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its earnings results on Monday, November 6th. The biotechnology company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. Idera Pharmaceuticals had a negative return on equity of 60.80% and a negative net margin of 313.78%. The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.20 million. equities research analysts anticipate that Idera Pharmaceuticals, Inc. will post -0.43 EPS for the current fiscal year.
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Several brokerages have commented on IDRA. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. ValuEngine downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $4.00 price target on shares of Idera Pharmaceuticals in a research note on Tuesday, September 12th. HC Wainwright assumed coverage on Idera Pharmaceuticals in a research note on Thursday, November 9th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, BidaskClub downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Idera Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $4.83.
Idera Pharmaceuticals 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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