Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) have received a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.33.
IDRA has been the topic of several research reports. ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush reiterated an “outperform” rating on shares of Idera Pharmaceuticals in a report on Friday, May 3rd. Finally, Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday.
Several institutional investors and hedge funds have recently bought and sold shares of IDRA. Natixis raised its holdings in shares of Idera Pharmaceuticals by 61.7% in the 2nd quarter. Natixis now owns 743,618 shares of the biotechnology company’s stock worth $1,985,000 after acquiring an additional 283,802 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Idera Pharmaceuticals by 36.1% in the 4th quarter. Millennium Management LLC now owns 602,639 shares of the biotechnology company’s stock worth $1,669,000 after acquiring an additional 159,916 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Idera Pharmaceuticals by 273.5% in the 2nd quarter. Acadian Asset Management LLC now owns 165,044 shares of the biotechnology company’s stock worth $440,000 after acquiring an additional 120,861 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Idera Pharmaceuticals in the 2nd quarter worth about $237,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Idera Pharmaceuticals in the 2nd quarter worth about $228,000. Institutional investors own 42.91% of the company’s stock.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.03. Idera Pharmaceuticals had a negative net margin of 9,045.47% and a negative return on equity of 71.91%. The firm had revenue of $1.45 million for the quarter, compared to analyst estimates of $0.10 million. On average, equities research analysts anticipate that Idera Pharmaceuticals will post -1.64 earnings per share for the current year.
Idera Pharmaceuticals Company Profile
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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