S&P Equity Research Increases Idera Pharmaceuticals Inc. (IDRA) Price Target to $2.10
Idera Pharmaceuticals Inc. (NASDAQ:IDRA) had its price objective raised by equities researchers at S&P Equity Research from $1.86 to $2.10 in a research report issued to clients and investors on Friday. S&P Equity Research’s target price suggests a potential upside of 5.00% from the company’s current price.
Several other equities analysts also recently issued reports on IDRA. Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of Idera Pharmaceuticals in a research note on Wednesday, August 24th. Zacks Investment Research cut shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th.
Idera Pharmaceuticals (NASDAQ:IDRA) traded down 8.26% on Friday, hitting $2.00. 14,297,152 shares of the stock traded hands. Idera Pharmaceuticals has a 52-week low of $1.19 and a 52-week high of $4.42. The stock’s market cap is $242.76 million. The company’s 50 day moving average price is $2.20 and its 200-day moving average price is $1.82.
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Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.11). Idera Pharmaceuticals had a negative net margin of 6,169.32% and a negative return on equity of 64.09%. On average, analysts forecast that Idera Pharmaceuticals will post ($0.45) earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Idera Pharmaceuticals by 1.0% in the second quarter. Rhumbline Advisers now owns 88,364 shares of the company’s stock valued at $135,000 after buying an additional 860 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Idera Pharmaceuticals by 1.9% in the second quarter. California State Teachers Retirement System now owns 186,693 shares of the company’s stock valued at $286,000 after buying an additional 3,478 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. Alliancebernstein L.P. boosted its position in shares of Idera Pharmaceuticals by 19.8% in the second quarter. Alliancebernstein L.P. now owns 66,600 shares of the company’s stock valued at $102,000 after buying an additional 11,000 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Idera Pharmaceuticals by 11.8% in the second quarter. Creative Planning now owns 121,300 shares of the company’s stock valued at $186,000 after buying an additional 12,800 shares in the last quarter. Institutional investors and hedge funds 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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