ValuEngine upgraded shares of Idera Pharmaceuticals (NASDAQ:IDRA) from a sell rating to a hold rating in a report issued on Thursday.

Other analysts also recently issued research reports about the stock. HC Wainwright reissued a buy rating and issued a $18.00 price target on shares of Idera Pharmaceuticals in a research report on Monday, October 22nd. Zacks Investment Research downgraded shares of Idera Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 17th. Barclays began coverage on shares of Idera Pharmaceuticals in a report on Monday, September 24th. They set an overweight rating and a $14.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Idera Pharmaceuticals in a report on Wednesday, August 15th. They set an overweight rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Idera Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $20.71.

NASDAQ IDRA opened at $3.98 on Thursday. Idera Pharmaceuticals has a 12-month low of $3.89 and a 12-month high of $20.40.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.15. Idera Pharmaceuticals had a negative net margin of 8,513.18% and a negative return on equity of 69.28%. The business had revenue of $0.15 million during the quarter, compared to the consensus estimate of $2.09 million. Analysts expect that Idera Pharmaceuticals will post -2.34 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. purchased a new position in Idera Pharmaceuticals during the 3rd quarter worth $96,000. Renaissance Technologies LLC purchased a new position in Idera Pharmaceuticals during the 3rd quarter worth $132,000. Marshall Wace LLP purchased a new position in Idera Pharmaceuticals during the 3rd quarter worth $200,000. Rhumbline Advisers boosted its holdings in Idera Pharmaceuticals by 20.3% during the 2nd quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 24,461 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Idera Pharmaceuticals by 20.9% during the 2nd quarter. California Public Employees Retirement System now owns 194,217 shares of the biotechnology company’s stock worth $256,000 after acquiring an additional 33,617 shares during the last quarter. 43.46% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

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