Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) has earned an average rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.75.

Several research firms have recently weighed in on IDRA. ValuEngine upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $4.00 price objective on shares of Idera Pharmaceuticals in a research note on Tuesday, September 12th.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.14) 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 analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%.

TRADEMARK VIOLATION WARNING: This article was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/11/02/idera-pharmaceuticals-inc-idra-given-consensus-recommendation-of-hold-by-brokerages.html.

In related news, Director Bros. Advisors Lp Baker acquired 8,000,000 shares of the stock in a transaction dated Thursday, October 26th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $12,000,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 30.29% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IDRA. Tudor Investment Corp ET AL grew its stake in shares of Idera Pharmaceuticals by 48.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 13,572 shares during the period. State of Wisconsin Investment Board bought a new stake in shares of Idera Pharmaceuticals in the 2nd quarter valued at approximately $136,000. American International Group Inc. grew its stake in shares of Idera Pharmaceuticals by 8.2% in the 1st quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 4,214 shares during the period. Nationwide Fund Advisors grew its stake in shares of Idera Pharmaceuticals by 7.3% in the 1st quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 4,235 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Idera Pharmaceuticals by 16.3% in the 2nd quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 12,600 shares during the period. Institutional investors own 30.93% 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.

Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

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.