-$0.47 EPS Expected for Idera Pharmaceuticals Inc (NASDAQ:IDRA) This Quarter

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Equities analysts forecast that Idera Pharmaceuticals Inc (NASDAQ:IDRA) will report earnings per share of ($0.47) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Idera Pharmaceuticals’ earnings, with estimates ranging from ($0.49) to ($0.45). Idera Pharmaceuticals reported earnings per share of ($0.46) during the same quarter last year, which suggests a negative year-over-year growth rate of 2.2%. The business is expected to issue its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Idera Pharmaceuticals will report full year earnings of ($1.64) per share for the current financial year, with EPS estimates ranging from ($1.71) to ($1.57). For the next year, analysts expect that the company will post earnings of ($1.45) per share, with EPS estimates ranging from ($1.91) to ($1.26). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Idera Pharmaceuticals.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. The business had revenue of $1.45 million for the quarter, compared to analysts’ expectations of $0.10 million.

Several research analysts recently issued reports on the stock. ValuEngine raised shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and set a $7.00 target price on shares of Idera Pharmaceuticals in a report on Thursday, September 5th. Finally, Zacks Investment Research cut shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $7.63.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDRA. Natixis increased its holdings in Idera Pharmaceuticals by 61.7% in the second quarter. Natixis now owns 743,618 shares of the biotechnology company’s stock valued at $1,985,000 after buying an additional 283,802 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Idera Pharmaceuticals by 273.5% in the second quarter. Acadian Asset Management LLC now owns 165,044 shares of the biotechnology company’s stock valued at $440,000 after buying an additional 120,861 shares in the last quarter. Jane Street Group LLC purchased a new position in Idera Pharmaceuticals in the second quarter valued at $237,000. Paloma Partners Management Co purchased a new position in Idera Pharmaceuticals in the second quarter valued at $228,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in Idera Pharmaceuticals by 62.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 158,723 shares of the biotechnology company’s stock valued at $424,000 after buying an additional 60,914 shares in the last quarter. 36.11% of the stock is owned by institutional investors.

Shares of Idera Pharmaceuticals stock traded up $0.09 during trading on Monday, hitting $2.77. 41,640 shares of the company’s stock were exchanged, compared to its average volume of 289,269. The business has a 50-day simple moving average of $2.75 and a 200-day simple moving average of $2.67. Idera Pharmaceuticals has a 52-week low of $2.08 and a 52-week high of $9.55. The stock has a market capitalization of $78.75 million, a price-to-earnings ratio of -1.21 and a beta of 2.42.

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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