Idera Pharmaceuticals (IDRA) Cut to Strong Sell at ValuEngine

ValuEngine downgraded shares of Idera Pharmaceuticals (NASDAQ:IDRA) from a sell rating to a strong sell rating in a research report report published on Friday morning.

A number of other brokerages also recently issued reports on IDRA. Zacks Investment Research downgraded Idera Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, January 17th. BidaskClub upgraded Idera Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Tuesday, January 16th. Finally, HC Wainwright set a $4.00 price target on Idera Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Idera Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $4.20.

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Shares of IDRA opened at $1.64 on Friday. The stock has a market capitalization of $354.25, a PE ratio of -3.90 and a beta of 2.35. Idera Pharmaceuticals has a 52 week low of $1.32 and a 52 week high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Wednesday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.30 million. Idera Pharmaceuticals had a negative return on equity of 78.83% and a negative net margin of 7,315.30%. research analysts expect that Idera Pharmaceuticals will post -0.37 EPS for the current fiscal year.

In other Idera Pharmaceuticals news, major shareholder Invest Corp Pillar sold 200,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $2.40, for a total transaction of $480,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.42% of the company’s stock.

A number of hedge funds have recently modified their holdings of IDRA. BlackRock Inc. raised its holdings in shares of Idera Pharmaceuticals by 38.1% during the fourth quarter. BlackRock Inc. now owns 9,005,243 shares of the biotechnology company’s stock valued at $19,000,000 after acquiring an additional 2,486,098 shares during the last quarter. Bain Capital Public Equity Management LLC acquired a new position in shares of Idera Pharmaceuticals during the fourth quarter valued at approximately $4,816,000. Millennium Management LLC raised its holdings in shares of Idera Pharmaceuticals by 135.9% during the fourth quarter. Millennium Management LLC now owns 3,854,325 shares of the biotechnology company’s stock valued at $8,133,000 after acquiring an additional 2,220,674 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Idera Pharmaceuticals by 45.4% during the third quarter. JPMorgan Chase & Co. now owns 3,359,875 shares of the biotechnology company’s stock valued at $7,526,000 after acquiring an additional 1,048,475 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in shares of Idera Pharmaceuticals during the fourth quarter valued at approximately $1,351,000. Institutional investors own 36.55% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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