Idera Pharmaceuticals (NASDAQ:IDRA) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Idera Pharmaceuticals (NASDAQ:IDRA) from a buy rating to a hold rating in a research note issued to investors on Thursday, December 7th.

IDRA has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, October 11th. Piper Jaffray Companies reiterated a buy rating and issued a $4.00 target price on shares of Idera Pharmaceuticals in a research note on Tuesday, September 12th. Finally, HC Wainwright set a $4.00 target price on shares of Idera Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Idera Pharmaceuticals has an average rating of Buy and an average price target of $4.83.

Idera Pharmaceuticals (NASDAQ IDRA) traded down $0.02 during mid-day trading on Thursday, reaching $2.11. 1,109,166 shares of the company were exchanged, compared to its average volume of 1,669,274. The firm has a market cap of $415.07, a PE ratio of -6.39 and a beta of 2.17. Idera Pharmaceuticals has a one year low of $1.30 and a one year high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its earnings results on Monday, November 6th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.20 million. Idera Pharmaceuticals had a negative net margin of 313.78% and a negative return on equity of 60.80%. sell-side analysts predict that Idera Pharmaceuticals will post -0.42 EPS for the current year.

In other Idera Pharmaceuticals news, Director Bros. Advisors Lp Baker acquired 8,000,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was acquired at an average cost of $1.50 per share, for a total transaction of $12,000,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Invest Corp Pillar sold 1,100,000 shares of Idera Pharmaceuticals stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $1.93, for a total transaction of $2,123,000.00. The disclosure for this sale can be found here. Insiders own 12.42% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in IDRA. State of Wisconsin Investment Board acquired a new position in shares of Idera Pharmaceuticals in the 2nd quarter valued at $136,000. Alliancebernstein L.P. lifted its stake in shares of Idera Pharmaceuticals by 16.3% in the 2nd quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 12,600 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Idera Pharmaceuticals by 3.0% in 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 period. The Manufacturers Life Insurance Company lifted its stake in shares of Idera Pharmaceuticals by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,976 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 6,316 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Idera Pharmaceuticals by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 24.14% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first posted by Week Herald and is the property of of Week Herald. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://weekherald.com/2017/12/30/idera-pharmaceuticals-idra-downgraded-to-hold-at-bidaskclub.html.

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.

Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

Receive News & Ratings for Idera Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply