Idera Pharmaceuticals (IDRA) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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Idera Pharmaceuticals (NASDAQ:IDRA) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.40) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.06, MarketWatch Earnings reports. Idera Pharmaceuticals had a negative return on equity of 75.10% and a negative net margin of 9,045.47%.

Idera Pharmaceuticals stock traded up $0.52 during midday trading on Friday, reaching $3.58. The stock had a trading volume of 47,411 shares, compared to its average volume of 333,093. Idera Pharmaceuticals has a 12 month low of $2.25 and a 12 month high of $17.12. The firm has a market capitalization of $89.67 million, a price-to-earnings ratio of -1.59 and a beta of 2.59.

A hedge fund recently bought a new stake in Idera Pharmaceuticals stock. Dimensional Fund Advisors LP purchased a new stake in shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 22,099 shares of the biotechnology company’s stock, valued at approximately $61,000. Dimensional Fund Advisors LP owned about 0.08% of Idera Pharmaceuticals as of its most recent filing with the SEC. 44.56% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on IDRA. Zacks Investment Research lowered Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. ValuEngine lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.71.

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About Idera Pharmaceuticals

Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for oncology in the United States. It offers Tilsotolimod, a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, metastatic melanoma, squamous cell carcinoma, and colorectal cancer.

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Earnings History for Idera Pharmaceuticals (NASDAQ:IDRA)

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