Idera Pharmaceuticals (NASDAQ:IDRA) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Several other research firms have also recently commented on IDRA. Zacks Investment Research cut Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. BidaskClub cut Idera Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, HC Wainwright began coverage on Idera Pharmaceuticals in a research note on Thursday, November 9th. They set a “buy” rating and a $4.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Idera Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $4.83.
Idera Pharmaceuticals (NASDAQ:IDRA) traded up $0.01 during trading on Thursday, hitting $1.78. The stock had a trading volume of 1,842,739 shares, compared to its average volume of 2,290,000. The stock has a market cap of $346.87, a PE ratio of -5.24 and a beta of 2.20. Idera Pharmaceuticals has a 12 month low of $1.32 and a 12 month high of $2.87.
A number of institutional investors and hedge funds have recently made changes to their positions in IDRA. Alliancebernstein L.P. lifted its stake in Idera Pharmaceuticals by 16.3% during the second quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 12,600 shares during the last quarter. Teachers Advisors LLC lifted its stake in Idera Pharmaceuticals by 12.0% during the second quarter. Teachers Advisors LLC now owns 189,604 shares of the biotechnology company’s stock worth $326,000 after purchasing an additional 20,267 shares during the last quarter. Northern Trust Corp lifted its stake in Idera Pharmaceuticals by 9.4% during the second quarter. Northern Trust Corp now owns 1,268,840 shares of the biotechnology company’s stock worth $2,183,000 after purchasing an additional 109,013 shares during the last quarter. Vanguard Group Inc. lifted its stake in Idera Pharmaceuticals by 3.5% during the second quarter. Vanguard Group Inc. now owns 5,181,108 shares of the biotechnology company’s stock worth $8,911,000 after purchasing an additional 173,775 shares during the last quarter. Finally, FMR LLC lifted its stake in Idera Pharmaceuticals by 3.8% during the second quarter. FMR LLC now owns 3,274,462 shares of the biotechnology company’s stock worth $5,632,000 after purchasing an additional 120,000 shares during the last quarter. Hedge funds and other institutional investors own 27.01% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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