Northern Trust Corp grew its stake in shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,775,754 shares of the biotechnology company’s stock after acquiring an additional 128,334 shares during the quarter. Northern Trust Corp owned about 6.54% of Idera Pharmaceuticals worth $2,344,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Idera Pharmaceuticals by 20.3% during the second quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock valued at $192,000 after acquiring an additional 24,461 shares in the last quarter. BlackRock Inc. increased its holdings in Idera Pharmaceuticals by 11.7% in the 2nd quarter. BlackRock Inc. now owns 10,043,638 shares of the biotechnology company’s stock worth $13,257,000 after buying an additional 1,048,482 shares during the period. GSA Capital Partners LLP acquired a new position in Idera Pharmaceuticals in the 2nd quarter worth approximately $179,000. California Public Employees Retirement System increased its holdings in Idera Pharmaceuticals by 20.9% in the 2nd quarter. California Public Employees Retirement System now owns 194,217 shares of the biotechnology company’s stock worth $256,000 after buying an additional 33,617 shares during the period. Finally, Alps Advisors Inc. acquired a new position in Idera Pharmaceuticals in the 2nd quarter worth approximately $416,000.
Shares of NASDAQ:IDRA opened at $6.70 on Friday. Idera Pharmaceuticals Inc has a twelve month low of $5.20 and a twelve month high of $20.40. The company has a market capitalization of $175.05 million, a P/E ratio of -1.99 and a beta of 2.66.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.43) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.15. Idera Pharmaceuticals had a negative net margin of 8,513.18% and a negative return on equity of 69.28%. The company had revenue of $0.15 million for the quarter, compared to the consensus estimate of $2.09 million. Analysts expect that Idera Pharmaceuticals Inc will post -2.34 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. ValuEngine downgraded shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. JPMorgan Chase & Co. assumed coverage on shares of Idera Pharmaceuticals in a report on Wednesday, August 15th. They issued an “overweight” rating and a $15.00 price target on the stock. Zacks Investment Research downgraded shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Barclays assumed coverage on shares of Idera Pharmaceuticals in a report on Monday, September 24th. They issued an “overweight” rating and a $14.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Idera Pharmaceuticals in a report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $20.71.
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.
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