According to Zacks, “Idera Pharmaceuticals, Inc. is a drug discovery and development company that is developing drug candidates to treat cancer and infectious, respiratory, and autoimmune diseases, and for use in combination with therapeutic and prophylactic vaccines. Idera’s proprietary drug candidates are designed to modulate Toll-like Receptors, the body’s first line of immune defense. Idera’s pioneering DNA chemistry expertise enables it to identify drug candidates for internal development and creates opportunities for multiple collaborative alliances. “
Several other equities research analysts also recently issued reports on IDRA. Wedbush reiterated an outperform rating on shares of Idera Pharmaceuticals in a report on Friday, May 3rd. ValuEngine downgraded Idera Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, May 1st. Finally, HC Wainwright decreased their price target on Idera Pharmaceuticals to $14.00 and set a buy rating for the company in a report on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Idera Pharmaceuticals has a consensus rating of Hold and a consensus target price of $16.75.
Shares of NASDAQ:IDRA traded up $0.01 during trading on Friday, reaching $2.53. 275,987 shares of the stock were exchanged, compared to its average volume of 511,343. Idera Pharmaceuticals has a 1-year low of $2.25 and a 1-year high of $17.12. The firm has a market capitalization of $70.89 million, a price-to-earnings ratio of -1.11 and a beta of 2.59.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.06. Idera Pharmaceuticals had a negative return on equity of 73.66% and a negative net margin of 9,045.47%. As a group, research analysts anticipate that Idera Pharmaceuticals will post -1.64 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in Idera Pharmaceuticals during the fourth quarter worth $33,000. Jane Street Group LLC bought a new stake in Idera Pharmaceuticals during the fourth quarter worth $39,000. SG Americas Securities LLC bought a new stake in Idera Pharmaceuticals during the fourth quarter worth $41,000. Squarepoint Ops LLC grew its stake in Idera Pharmaceuticals by 45.5% in the 4th quarter. Squarepoint Ops LLC now owns 18,900 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 5,910 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in Idera Pharmaceuticals in the 4th quarter valued at $61,000. Institutional investors and hedge funds own 43.79% of the company’s stock.
About Idera Pharmaceuticals
Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for oncology in the United States. It offers Tilsotolimod, a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, metastatic melanoma, squamous cell carcinoma, and colorectal cancer.
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