Idera Pharmaceuticals Inc. (IDRA) Price Target Increased to $2.10 by Analysts at S&P Equity Research
Idera Pharmaceuticals Inc. (NASDAQ:IDRA) had its target price lifted by equities research analysts at S&P Equity Research from $1.86 to $2.10 in a report issued on Friday. S&P Equity Research’s price target indicates a potential downside of 3.67% from the stock’s previous close.
Several other research analysts have also recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Idera Pharmaceuticals in a research note on Monday, September 26th. Zacks Investment Research cut Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th.
Idera Pharmaceuticals (NASDAQ:IDRA) traded down 8.26% on Friday, reaching $2.00. The company’s stock had a trading volume of 14,285,197 shares. Idera Pharmaceuticals has a 12-month low of $1.19 and a 12-month high of $4.42. The firm has a 50-day moving average of $2.20 and a 200 day moving average of $1.82. The company’s market capitalization is $242.76 million.
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Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Idera Pharmaceuticals had a negative return on equity of 64.09% and a negative net margin of 6,169.32%. On average, equities research analysts anticipate that Idera Pharmaceuticals will post ($0.45) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in IDRA. JPMorgan Chase & Co. boosted its position in shares of Idera Pharmaceuticals by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 3,349,700 shares of the company’s stock valued at $6,632,000 after buying an additional 187,625 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Idera Pharmaceuticals by 4.3% in the second quarter. BlackRock Fund Advisors now owns 2,332,615 shares of the company’s stock valued at $3,569,000 after buying an additional 97,125 shares in the last quarter. State Street Corp boosted its position in shares of Idera Pharmaceuticals by 10.7% in the second quarter. State Street Corp now owns 1,332,201 shares of the company’s stock valued at $2,041,000 after buying an additional 129,033 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Idera Pharmaceuticals by 0.6% in the first quarter. Geode Capital Management LLC now owns 680,280 shares of the company’s stock valued at $1,346,000 after buying an additional 4,263 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in shares of Idera Pharmaceuticals by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 334,389 shares of the company’s stock valued at $512,000 after buying an additional 22,791 shares in the last quarter. Institutional investors own 28.44% of the company’s stock.
About Idera Pharmaceuticals
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.
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