Idera Pharmaceuticals, Inc. (IDRA) Given Consensus Recommendation of “Buy” by Brokerages

Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) has been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.83.

A number of research firms have issued reports on IDRA. BidaskClub lowered shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. HC Wainwright set a $4.00 target price on shares of Idera Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, November 16th. Zacks Investment Research upgraded 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. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $4.00 target price on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th.

In related news, Director Bros. Advisors Lp Baker acquired 8,000,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was bought at an average price of $1.50 per share, with a total value of $12,000,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Invest Corp Pillar sold 2,300,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $1.96, for a total transaction of $4,508,000.00. The disclosure for this sale can be found here. 12.42% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of IDRA. State of Wisconsin Investment Board acquired a new position in shares of Idera Pharmaceuticals during the 2nd quarter valued at about $136,000. Alliancebernstein L.P. increased its stake in shares of Idera Pharmaceuticals by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 12,600 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Idera Pharmaceuticals by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,976 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 6,316 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Idera Pharmaceuticals by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 312 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in shares of Idera Pharmaceuticals during the 2nd quarter valued at about $232,000. 24.14% of the stock is owned by institutional investors.

Idera Pharmaceuticals (NASDAQ IDRA) opened at $2.13 on Friday. Idera Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its earnings results on Monday, November 6th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. The company had revenue of $0.16 million for 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%. research analysts expect that Idera Pharmaceuticals will post -0.42 earnings per share for the current fiscal year.

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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)

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