Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) Upgraded by Zacks Investment Research to “Hold”
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Idera Pharmaceuticals, Inc. is a drug discovery and development company that is developing drug candidates to treat cancer and infectious, respiratory, and autoimmune diseases, and for use in combination with therapeutic and prophylactic vaccines. Idera’s proprietary drug candidates are designed to modulate Toll-like Receptors, the body’s first line of immune defense. Idera’s pioneering DNA chemistry expertise enables it to identify drug candidates for internal development and creates opportunities for multiple collaborative alliances. “
IDRA has been the topic of several other research reports. Robert W. Baird started coverage on Idera Pharmaceuticals in a report on Monday, April 24th. They issued an “outperform” rating and a $5.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of Idera Pharmaceuticals in a report on Friday, March 17th. ValuEngine lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, JMP Securities started coverage on Idera Pharmaceuticals in a report on Wednesday, March 22nd. They issued an “outperform” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $4.57.
Shares of Idera Pharmaceuticals (NASDAQ:IDRA) traded up 3.45% during trading on Thursday, reaching $1.80. The company’s stock had a trading volume of 298,937 shares. The company’s 50 day moving average price is $1.70 and its 200 day moving average price is $1.82. Idera Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $3.33. The firm’s market cap is $268.47 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its earnings results on Thursday, May 4th. The biotechnology company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The business had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.20 million. Idera Pharmaceuticals had a negative return on equity of 53.37% and a negative net margin of 249.48%. On average, equities analysts predict that Idera Pharmaceuticals will post ($0.44) earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) Upgraded by Zacks Investment Research to “Hold”” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/09/idera-pharmaceuticals-inc-nasdaqidra-upgraded-by-zacks-investment-research-to-hold.html.
In other Idera Pharmaceuticals news, Director Invest Corp Pillar sold 437,829 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $2.29, for a total value of $1,002,628.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 2,217,066 shares of company stock worth $5,063,557. Corporate insiders own 30.29% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IDRA. Norges Bank bought a new position in Idera Pharmaceuticals during the fourth quarter worth $450,000. State Street Corp raised its position in Idera Pharmaceuticals by 11.7% in the fourth quarter. State Street Corp now owns 1,553,323 shares of the biotechnology company’s stock worth $2,330,000 after buying an additional 162,173 shares in the last quarter. Oxford Asset Management bought a new position in Idera Pharmaceuticals during the first quarter worth $743,000. FMR LLC raised its position in Idera Pharmaceuticals by 10,453.4% in the fourth quarter. FMR LLC now owns 2,511,700 shares of the biotechnology company’s stock worth $3,768,000 after buying an additional 2,487,900 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Idera Pharmaceuticals by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 154,886 shares of the biotechnology company’s stock worth $232,000 after buying an additional 14,205 shares in the last quarter. Institutional investors and hedge funds own 31.43% of the company’s stock.
Idera Pharmaceuticals Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Idera Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.