Analysts expect Idera Pharmaceuticals Inc (NASDAQ:IDRA) to report $2.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Idera Pharmaceuticals’ earnings, with estimates ranging from $100,000.00 to $6.00 million. Idera Pharmaceuticals posted sales of $160,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1,206.3%. The business is scheduled to report its next quarterly earnings results on Monday, November 5th.
On average, analysts expect that Idera Pharmaceuticals will report full year sales of $2.04 million for the current year, with estimates ranging from $420,000.00 to $6.42 million. For the next year, analysts anticipate that the company will post sales of $530,000.00 per share, with estimates ranging from $400,000.00 to $650,000.00. Zacks’ sales averages are an average based on a survey of analysts that follow Idera Pharmaceuticals.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.23. Idera Pharmaceuticals had a negative net margin of 8,686.36% and a negative return on equity of 74.17%. The company had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.18 million.
A number of research firms have issued reports on IDRA. BidaskClub downgraded shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Thursday, August 9th. ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. JMP Securities cut their target price on shares of Idera Pharmaceuticals from $64.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, June 13th. Finally, Robert W. Baird cut their target price on shares of Idera Pharmaceuticals from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, June 13th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $22.79.
In other news, major shareholder Invest Corp Pillar sold 55,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $6.30, for a total transaction of $346,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James A. Geraghty purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average price of $5.58 per share, for a total transaction of $55,800.00. The disclosure for this purchase can be found here. Insiders have sold a total of 5,106,736 shares of company stock worth $5,805,439 in the last 90 days. 20.48% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Artal Group S.A. bought a new position in shares of Idera Pharmaceuticals during the 1st quarter valued at $5,060,000. New York State Common Retirement Fund grew its stake in Idera Pharmaceuticals by 41.3% in the 1st quarter. New York State Common Retirement Fund now owns 136,100 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 39,800 shares during the last quarter. Bluefin Trading LLC acquired a new position in Idera Pharmaceuticals in the 1st quarter valued at $329,000. Millennium Management LLC grew its stake in Idera Pharmaceuticals by 25.8% in the 1st quarter. Millennium Management LLC now owns 4,848,557 shares of the biotechnology company’s stock valued at $8,921,000 after buying an additional 994,232 shares during the last quarter. Finally, Berson & Corrado Investment Advisors LLC grew its stake in Idera Pharmaceuticals by 69.2% in the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 104,850 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 42,900 shares during the last quarter.
IDRA stock opened at $10.13 on Friday. Idera Pharmaceuticals has a 12-month low of $5.20 and a 12-month high of $22.96. The company has a market capitalization of $271.20 million, a price-to-earnings ratio of -3.01 and a beta of 2.34.
About Idera Pharmaceuticals
Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States. The company uses two drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and nucleic acid chemistry technology.
Read More: Risk Tolerance
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Idera Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.