Idera Pharmaceuticals, Inc. (IDRA) Sees Large Drop in Short Interest
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) was the recipient of a large drop in short interest in the month of September. As of September 29th, there was short interest totalling 9,959,849 shares, a drop of 20.1% from the September 15th total of 12,467,728 shares. Based on an average daily volume of 925,047 shares, the short-interest ratio is currently 10.8 days. Approximately 7.8% of the shares of the stock are sold short.
Shares of Idera Pharmaceuticals (IDRA) opened at 2.65 on Friday. Idera Pharmaceuticals has a one year low of $1.30 and a one year high of $2.87. The firm has a 50-day moving average of $2.17 and a 200-day moving average of $1.98. The company’s market capitalization is $396.52 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). 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 61.09% and a negative net margin of 300.63%. Analysts forecast that Idera Pharmaceuticals will post ($0.48) earnings per share for the current year.
Several brokerages have recently commented on IDRA. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine downgraded shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating and set a $4.00 price objective on shares of Idera Pharmaceuticals in a research report on Tuesday, September 12th. Finally, BidaskClub downgraded shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Idera Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $5.75.
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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