Wall Street analysts forecast that Idera Pharmaceuticals Inc (NASDAQ:IDRA) will post earnings per share of ($0.56) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Idera Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.64) and the highest estimate coming in at ($0.40). Idera Pharmaceuticals reported earnings of ($0.80) per share during the same quarter last year, which indicates a positive year over year growth rate of 30%. The firm is scheduled to issue its next quarterly earnings report on Monday, November 5th.

On average, analysts expect that Idera Pharmaceuticals will report full-year earnings of ($2.58) per share for the current financial year, with EPS estimates ranging from ($2.71) to ($2.44). For the next fiscal year, analysts anticipate that the company will report earnings of ($2.56) per share, with EPS estimates ranging from ($3.36) to ($1.99). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Idera Pharmaceuticals.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.82) by $0.23. Idera Pharmaceuticals had a negative net margin of 8,686.36% and a negative return on equity of 74.17%. The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.18 million.

Several equities research analysts recently issued reports on IDRA shares. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Robert W. Baird dropped their target price on shares of Idera Pharmaceuticals from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, June 13th. BidaskClub upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. JMP Securities dropped their target price on shares of Idera Pharmaceuticals from $64.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, June 13th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Idera Pharmaceuticals in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.79.

IDRA stock traded down $0.68 on Friday, hitting $8.47. The company had a trading volume of 724,600 shares, compared to its average volume of 307,809. Idera Pharmaceuticals has a 12-month low of $5.20 and a 12-month high of $22.96. The stock has a market capitalization of $275.27 million, a P/E ratio of -2.52 and a beta of 2.31.

In other Idera Pharmaceuticals news, major shareholder Invest Corp Pillar sold 55,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $6.30, for a total value of $346,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James A. Geraghty purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was acquired at an average price of $5.58 per share, for a total transaction of $55,800.00. The disclosure for this purchase can be found here. Insiders sold 5,106,736 shares of company stock worth $5,805,439 over the last quarter. Insiders own 20.48% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDRA. Artal Group S.A. bought a new stake in shares of Idera Pharmaceuticals during the 1st quarter valued at $5,060,000. New York State Common Retirement Fund raised its position in shares of Idera Pharmaceuticals by 41.3% during the 1st quarter. New York State Common Retirement Fund now owns 136,100 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 39,800 shares during the period. Bluefin Trading LLC bought a new stake in shares of Idera Pharmaceuticals during the 1st quarter valued at $329,000. Millennium Management LLC raised its position in shares of Idera Pharmaceuticals by 25.8% during the 1st quarter. Millennium Management LLC now owns 4,848,557 shares of the biotechnology company’s stock valued at $8,921,000 after purchasing an additional 994,232 shares during the period. Finally, Berson & Corrado Investment Advisors LLC raised its position in shares of Idera Pharmaceuticals by 69.2% during the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 104,850 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 42,900 shares during the period.

About Idera Pharmaceuticals

Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States. The company uses two drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and nucleic acid chemistry technology.

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