BlackRock Inc. Has $13.26 Million Position in Idera Pharmaceuticals Inc (IDRA)

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BlackRock Inc. raised its holdings in shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) by 11.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,043,638 shares of the biotechnology company’s stock after buying an additional 1,048,482 shares during the quarter. BlackRock Inc. owned 0.37% of Idera Pharmaceuticals worth $13,257,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IDRA. Schwab Charles Investment Management Inc. grew its position in Idera Pharmaceuticals by 16.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 339,890 shares of the biotechnology company’s stock valued at $626,000 after buying an additional 48,300 shares during the period. New York State Common Retirement Fund grew its position in Idera Pharmaceuticals by 41.3% during the first quarter. New York State Common Retirement Fund now owns 136,100 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 39,800 shares during the period. Millennium Management LLC grew its position in Idera Pharmaceuticals by 25.8% during the first quarter. Millennium Management LLC now owns 4,848,557 shares of the biotechnology company’s stock valued at $8,921,000 after buying an additional 994,232 shares during the period. Berson & Corrado Investment Advisors LLC grew its position in Idera Pharmaceuticals by 69.2% during the second quarter. Berson & Corrado Investment Advisors LLC now owns 104,850 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 42,900 shares during the period. Finally, Alps Advisors Inc. bought a new position in Idera Pharmaceuticals during the second quarter valued at about $416,000.

In other news, Director James A. Geraghty purchased 10,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were purchased at an average cost of $5.58 per share, with a total value of $55,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Invest Corp Pillar sold 166,893 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $5.58, for a total transaction of $931,262.94. The disclosure for this sale can be found here. 20.48% of the stock is owned by corporate insiders.

Several equities analysts recently weighed in on IDRA shares. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Wedbush reduced their price target on shares of Idera Pharmaceuticals from $40.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, July 16th. ValuEngine upgraded shares of Idera Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 30th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Idera Pharmaceuticals in a research report on Monday, August 6th. 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. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Idera Pharmaceuticals has an average rating of “Hold” and a consensus price target of $20.21.

NASDAQ IDRA opened at $6.67 on Thursday. The stock has a market cap of $191.30 million, a price-to-earnings ratio of -1.99 and a beta of 2.49. Idera Pharmaceuticals Inc has a 52 week low of $5.20 and a 52 week high of $20.40.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.82) by $0.23. The business had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.18 million. Idera Pharmaceuticals had a negative net margin of 8,686.36% and a negative return on equity of 74.17%. As a group, equities research analysts anticipate that Idera Pharmaceuticals Inc will post -2.58 EPS for the current year.

Idera Pharmaceuticals Company Profile

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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Institutional Ownership by Quarter for Idera Pharmaceuticals (NASDAQ:IDRA)

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