Wedbush Comments on Idera Pharmaceuticals, Inc.’s FY2017 Earnings (IDRA)
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) – Investment analysts at Wedbush reduced their FY2017 earnings per share (EPS) estimates for shares of Idera Pharmaceuticals in a report released on Tuesday. Wedbush analyst R. Driscoll now forecasts that the biotechnology company will post earnings of ($0.47) per share for the year, down from their prior forecast of ($0.44). Wedbush also issued estimates for Idera Pharmaceuticals’ Q1 2018 earnings at ($0.11) EPS, Q2 2018 earnings at ($0.11) EPS, Q3 2018 earnings at ($0.12) EPS, Q4 2018 earnings at ($0.13) EPS and FY2019 earnings at ($0.40) EPS.
A number of other analysts have also recently weighed in on the company. ValuEngine cut Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Robert W. Baird assumed coverage on Idera Pharmaceuticals in a research note on Monday, April 24th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, BidaskClub cut Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Idera Pharmaceuticals currently has an average rating of “Hold” and an average target price of $4.57.
Shares of Idera Pharmaceuticals (IDRA) traded up 0.57% on Friday, reaching $1.75. The company’s stock had a trading volume of 70,902 shares. The firm has a 50 day moving average price of $1.84 and a 200-day moving average price of $1.88. Idera Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $3.33. The stock’s market cap is $261.85 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.03. The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.20 million. Idera Pharmaceuticals had a negative return on equity of 61.09% and a negative net margin of 300.63%.
Several hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL boosted its stake in Idera Pharmaceuticals by 48.8% in the first quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock worth $102,000 after buying an additional 13,572 shares during the period. TFS Capital LLC purchased a new stake in Idera Pharmaceuticals during the first quarter worth approximately $109,000. American International Group Inc. boosted its stake in Idera Pharmaceuticals by 8.2% in the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock worth $137,000 after buying an additional 4,214 shares during the period. Nationwide Fund Advisors boosted its stake in Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock worth $154,000 after buying an additional 4,235 shares during the period. Finally, State of Wisconsin Investment Board purchased a new stake in Idera Pharmaceuticals during the second quarter worth approximately $136,000. Institutional investors and hedge funds own 31.30% 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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