Idera Pharmaceuticals (IDRA) Stock Rating Lowered by BidaskClub

Idera Pharmaceuticals (NASDAQ:IDRA) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research report on Thursday, November 9th. HC Wainwright set a $4.00 price objective on shares of Idera Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $4.83.

Shares of Idera Pharmaceuticals (NASDAQ:IDRA) opened at $1.87 on Thursday. The company has a market cap of $377.58, a P/E ratio of -5.67 and a beta of 2.19. Idera Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results 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 the consensus estimate 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 forecast that Idera Pharmaceuticals will post -0.42 earnings per share for the current year.

In other Idera Pharmaceuticals news, major shareholder Invest Corp Pillar sold 1,100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $1.93, for a total value of $2,123,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 3,600,000 shares of company stock worth $7,111,000. Company insiders own 12.42% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Idera Pharmaceuticals by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,181,108 shares of the biotechnology company’s stock valued at $8,911,000 after buying an additional 173,775 shares during the period. JPMorgan Chase & Co. increased its stake in Idera Pharmaceuticals by 45.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,359,875 shares of the biotechnology company’s stock valued at $7,526,000 after buying an additional 1,048,475 shares during the period. FMR LLC increased its stake in Idera Pharmaceuticals by 3.8% in the 2nd quarter. FMR LLC now owns 3,274,462 shares of the biotechnology company’s stock valued at $5,632,000 after buying an additional 120,000 shares during the period. State Street Corp increased its stake in Idera Pharmaceuticals by 13.0% in the 2nd quarter. State Street Corp now owns 1,787,852 shares of the biotechnology company’s stock valued at $3,075,000 after buying an additional 205,217 shares during the period. Finally, Northern Trust Corp increased its stake in Idera Pharmaceuticals by 9.4% in the 2nd quarter. Northern Trust Corp now owns 1,268,840 shares of the biotechnology company’s stock valued at $2,183,000 after buying an additional 109,013 shares during the period. Hedge funds and other institutional investors own 24.14% of the company’s stock.

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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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