Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) Releases Earnings Results, Misses Expectations By $0.03 EPS
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) posted its earnings results on Monday. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03, Bloomberg Earnings reports. The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative return on equity of 53.37% and a negative net margin of 249.48%.
Idera Pharmaceuticals (IDRA) traded down 1.64% during trading on Tuesday, reaching $1.80. 702,344 shares of the company were exchanged. Idera Pharmaceuticals has a one year low of $1.30 and a one year high of $3.33. The firm’s 50 day moving average price is $1.80 and its 200-day moving average price is $1.87. The stock’s market capitalization is $268.47 million.
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A number of analysts have recently issued reports on the stock. BidaskClub cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Robert W. Baird assumed coverage on shares of Idera Pharmaceuticals in a research note on Monday, April 24th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $6.00 target price on shares of Idera Pharmaceuticals in a research note on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Idera Pharmaceuticals currently has an average rating of “Hold” and an average target price of $4.57.
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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