Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) received a $4.00 target price from analysts at HC Wainwright in a research report issued on Thursday. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 92.31% from the stock’s current price.

Several other brokerages have also recently weighed in on IDRA. BidaskClub cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a report on Thursday, November 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $4.00 target price on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th. Finally, ValuEngine cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $4.83.

Idera Pharmaceuticals (IDRA) traded up $0.10 during midday trading on Thursday, hitting $2.08. 1,923,966 shares of the stock traded hands, compared to its average volume of 1,474,922. Idera Pharmaceuticals has a twelve month low of $1.30 and a twelve month high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative net margin of 313.78% and a negative return on equity of 60.80%. sell-side analysts expect that Idera Pharmaceuticals will post -0.43 EPS for the current year.

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In other Idera Pharmaceuticals news, Director Bros. Advisors Lp Baker bought 8,000,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were acquired at an average cost of $1.50 per share, with a total value of $12,000,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 30.29% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Idera Pharmaceuticals by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 5,007,333 shares of the biotechnology company’s stock valued at $12,368,000 after buying an additional 159,828 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Idera Pharmaceuticals during the 2nd quarter worth $232,000. FMR LLC boosted its position in shares of Idera Pharmaceuticals by 25.6% during the 1st quarter. FMR LLC now owns 3,154,462 shares of the biotechnology company’s stock worth $7,792,000 after purchasing an additional 642,762 shares in the last quarter. KCG Holdings Inc. boosted its position in shares of Idera Pharmaceuticals by 70.8% during the 1st quarter. KCG Holdings Inc. now owns 143,471 shares of the biotechnology company’s stock worth $354,000 after purchasing an additional 59,452 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its position in shares of Idera Pharmaceuticals by 48.8% during the 1st quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 13,572 shares in the last quarter. Hedge funds and other institutional investors own 23.73% 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.

Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

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