Idera Pharmaceuticals Inc (NASDAQ:IDRA) has been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.83.

Several brokerages have issued reports on IDRA. BidaskClub raised shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, December 30th. HC Wainwright set a $4.00 target price on shares of Idera Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, Zacks Investment Research raised shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a report on Thursday, November 9th.

Idera Pharmaceuticals (NASDAQ IDRA) opened at $2.49 on Tuesday. The stock has a market cap of $485.23, a PE ratio of -7.32 and a beta of 2.19. Idera Pharmaceuticals has a twelve month low of $1.30 and a twelve month high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Monday, November 6th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.20 million. Idera Pharmaceuticals had a negative net margin of 313.78% and a negative return on equity of 60.80%. analysts predict that Idera Pharmaceuticals will post -0.42 EPS for the current fiscal year.

In related news, Director Bros. Advisors Lp Baker acquired 8,000,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was purchased at an average cost of $1.50 per share, with a total value of $12,000,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Invest Corp Pillar sold 2,300,000 shares of the business’s stock in a transaction that occurred on 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 owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in Idera Pharmaceuticals by 16.3% during the second quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after buying an additional 12,600 shares during the period. The Manufacturers Life Insurance Company grew its position in Idera Pharmaceuticals by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 94,976 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 6,316 shares during the period. Rhumbline Advisers grew its position in Idera Pharmaceuticals by 0.3% during the second quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 312 shares during the period. Wells Fargo & Company MN grew its position in Idera Pharmaceuticals by 55.7% during the third quarter. Wells Fargo & Company MN now owns 142,423 shares of the biotechnology company’s stock valued at $318,000 after buying an additional 50,944 shares during the period. Finally, GSA Capital Partners LLP grew its position in Idera Pharmaceuticals by 846.1% during the second quarter. GSA Capital Partners LLP now owns 180,588 shares of the biotechnology company’s stock valued at $311,000 after buying an additional 161,500 shares during the period. 24.14% of the stock is owned by hedge funds and other institutional investors.

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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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